October – December 2013
MANDELA: LEST WE FORGET
We mourn with his family, all the people of South Africa and his millions of admirers worldwide, the death of Nelson Rolihlahla Mandela, and pay tribute to him for the role he played in the history of South Africa. Excerpt from his Inaugural Speech as the President of South Africa on 5 October 1994: “Let there be justice for all. Let there be peace for all. Let there be work, bread, water and salt for all. Let each know that for each the body, the mind and the soul have been freed to fulfil themselves. Never, never and never again shall it be that this beautiful land will again experience the oppression of one by another and suffer the indignity of being the skunk of the world. Let freedom reign. The sun shall never set on so glorious a human achievement! God bless Africa!” We will not forget and we undertake in his honour to ensure that his words “Let freedom reign” are always remembered.
FESTIVE SEASON WISHES
The FMF Chairman, board members, executive committee members, directors and staff wish all our members, friends and fans a joyous and safe festive season and all you wish and work for in 2014.
The FMF’s projects for 2013 include: civil liberties, COMPETITION, energy, GOOD LAW, growth, HEALTH, job creation / labour, PROPERTY TITLING, nationalisation, and RED TAPE, as well as ad hoc issues as they arise. Note: As a Special Chairman’s Letter dealing exclusively with the FMF’s property titling project replaced the third Quarterly Review of 2013, this Review includes previously unreported news from July through September.
The FMF has been working hard to increase its media coverage and reach as wide an audience as possible with its message about the benefits of economic freedom and growth. In the last six months (June through November), the FMF’s WEBSITE ARTICLES, sent to our mailing list weekly, were republished on 26 occasions, in other words each article was republished once on average.
341 ARTICLES that quote or mention the FMF or originate from interviews or were written specifically for the media were published since January 2013. These include Leon Louw’s weekly column in Business Day. The column is published each Wednesday and since June has dealt with the following:
- June 5: ‘Fairness junkies’ – be careful what you wish for – In this weird new world, seductive rhetoric legitimises forcing law-abiding consumers to pay higher insurance premiums to cover increased risks and subsidise criminals.
- June 12: ‘Ombuds’ undermine consumers’ freedom – Problem is the extent to which law, contractual freedom, consumer choice, competition and innovation are undermined.
- June 19: Exchange controls send wrong signals to investors – Mark Shuttleworth’s widely publicised case against the constitutionality of exchange controls is very important for all South Africans.
- June 26: Why the rule of law is of the utmost importance – Nothing is more important for us to understand and uphold than the rule of law.
- July 3: No hiding the fact that Fais failed to perform – The Financial Advisory and Intermediary Services Act is a costly mistake that needs a complete overhaul.
- July 10: Cops turned robbers an indictment of our society – What is becoming of our society when the people we need to fear the most are police?
- July 17: Why we should use more energy – not less – The moral duty of patriotic South Africans is to maximise energy consumption.
- July 24: ‘Indigenous’ names really belonged to settlers – One of the most bizarre aspects of our renaming is that we are supposedly reverting to ‘indigenous,’ names.
- July 31: The fact that I am wrong doesn’t mean you are right – The binary imperative is so hard-wired that it is virtually impossible to avoid.
- August 7: Landless blacks are victims of state fraud – Monumental fraud is being perpetrated against black South Africans.
- August 14: Forgetting that justice must be seen to be done – The transfer of judicial process to the executive is a vote of no confidence in centuries of jurisprudence.
- August 21: Vavi’s denial of freedom for unions is backfiring – Does Cosatu’s response to suspended general secretary Zwelinzima Vavi’s sexual indiscretion make him a victim of vice or vendetta?
- August 28: If you think CEOs are overpaid, consider this – There is much huffing and puffing about ‘excessive’ remuneration for company executives.
- September 4: Liberalised markets are the cure for destitution – Governments should not try to eliminate inequality but should instead try to alleviate destitution by way of market liberalisation.
- September 11: Throw off our nappies and rein in all those nannies – Let’s cast our ‘nappies’ aside and turn authoritarian ‘nannies’ back into public servants.
- September 18: No logic in ‘house arrest’ for owners of RDP homes – The belief that people must retain what they are given has nothing to do with their interests.
- September 25: The changing meaning of the Freedom Charter – The Freedom Charter has morphed, without a single word changing, from a capitalist to a communist document.
- October 2: Why South Africa’s ‘terrible triplets’ are unrelated – The ‘terrible triplets’ that haunt South Africa – poverty, inequality and unemployment – are often used like a mindless mantra.
- October 9: No ‘African Century’ with no economic freedom – What winning countries always have in common and losers always lack is rising scores on indices measuring the rule of law and economic freedom.
- October 16: Are court delays an abuse of the legal process? – Justice delayed is justice denied and for justice to be done, it must be seen to be done.
- October 23: The Bitcoin revolution could change government – Bitcoin might revolutionise more than money or economics. It could transform the role and nature of government.
- October 30: Another lost chance to end waste in boondoggles – The medium-term budget policy statement was another missed opportunity to end waste on a gigantic and ballooning scale.
- November 6: The poor are punished for trying to make a living – Half a century after the darkest days of apartheid, when more was done to clear vendors than litter, SA continues to endure a perpetual orgy of brutal ‘street cleaning’.
- November 13: Parliaments work better when they repeal laws – Legislating by repeal would be a profound paradigm shift from self-serving legislation initiated by the executive to legislation initiated by legislators.
- November 20: Simple ideas to end the bane of the intellectuals – Not only do ‘intellectuals’ pay no price for being wrong, they are exalted if they influence – and usually harm – the course of events.
- November 27: Malema and Verwoerd are two sides of same coin – Julius Malema and his Economic Freedom Fighters want the Verwoerdian apartheid fantasy for blacks.
INTERVIEWS on radio and TV between June and November number 47, some of which are available as podcasts on our home page.
FMF has hosted 9 media briefings since June 2013 and plans to host one to two per month whenever possible. The briefings provide journalists with an opportunity to ask in-depth questions about the topic under review. Each briefing is followed by a media advisory to over 1,000 editors and journalists.
- June 5: Solving SA’s power crisis: Bring in independent power producers (IPPs)
- June 26: The 2013 Expropriation Bill is better but still bad...
- July 17: The Competition Commission's propaganda war
- July 31: SAA bailouts and Eskom’s debacle on Medupi: Unconstitutional procurement
- August 20: Julius Malema and the call for nationalisation, expropriation and centralisation
- September 11: Private schooling to overcome poverty
- September 18: South Africa ranks 88th among 152 nations
- November 13: Creating a climate conducive to the development of black industrialists
- November 20: 2013: A turbulent year for domestic aviation
See projects below for more information on project-specific media briefings this quarter.
Having achieved democracy in 1994, South Africa is a country rich in potential with an unlimited future. The FMF wishes to identify those unique, one of a kind, individuals who have inspired others in a particular sphere of life. These individuals are elected as FMF Luminaries to commemorate their achievements as an example to all.
On September 11, Dr Pauline Dixon, Senior Lecturer – Director of Research, EG West Centre, International Development and Education, Newcastle University, spoke on Private schooling to overcome poverty, and received the third FMF Luminary Award “…for her dedication to researching and tirelessly promoting practical solutions to schooling challenges and education entrepreneurship in low-income communities”. (See also Education below.)
On November 13, Dr Sam Motsuenyane, Project Leader at Winterveld Citrus Farming Project and co-founder National African Federated Chamber of Commerce (NAFCOC), spoke on Creating a climate conducive to the development of black industrialists, and received the fourth FMF Luminary Award “…for outstanding individual enterprise excellence and leadership, consistently demonstrated over many decades in overcoming adversity and inspiring the people of South Africa”. (See also Job creation / Labour below.)
(The first FMF Luminary Award recipient was Dr Yuri Maltsev “…for his tireless dedication to upholding liberty and the inspiration he brings to the people whose lives he touches”. The second was The Most Revd Dr Thabo C Makgoba “…for his lifelong dedication to all the peoples of South Africa and for ceaselessly demonstrating the highest level of integrity”.)
Media briefing and advisory
On November 20, Professor Jackie Walters, University of Johannesburg and Chairperson: Department of Transport and Supply Chain Management, with Dr Joachim Vermooten, Aviation & Transport Economist and Consultant presented 2013: A turbulent year for domestic aviation: From deregulation and level playing fields to bailouts, legal challenges, foreign ownership and stalled take offs. They dealt with the following:
- Deregulation, the level playing field and other promises.
- 2013 developments.
- SAA: national carrier, development device or foreign policy tool?
- Should the state play a role?
- SAA and SA Express bailouts: the latest figures and analysis at the end of 2013.
- Bilateral agreements, foreign ownership and fair competition.
The FMF’s subsequent media advisory was entitled SAA’s obsession with growth and expansion at taxpayers’ expense damages private airlines and flies in face of air transport policy and stated that: “… the cumulative sum of government financial support for SAA was just under R24billion; that government had reneged on its deregulation level playing field promise to the private sector; that from the start SAA had engaged in anticompetitive practises which led to the demise of six private domestic airlines; that SAA’s excuse of high cost of fuel being responsible for losses was pure fantasy; that there were credible ways to rescue SAA other than taxpayer funds; that SAA is actually capable of generating profits today; that SAA, Mango and SAX were obsessed with growth which would drive further domestic over-capacity and losses; that low cost Mango had not added more passenger traffic but had in fact cannibalised SAA’s; and that the competition authorities should investigate the merger of SAA, Mango and SA Express (SAX).”
Temba Nolutshungu addressed the AGM of the Airlines Association of Southern Africa on Global Competitiveness: Scenarios for Africa.
Media briefing and advisory
On September 11, Dr Pauline Dixon, Senior Lecturer – Director of Research, EG West Centre, International Development and Education, Newcastle University, presented Private schooling to overcome poverty. She outlined the following:
- In some African and Asian countries most schooling for the poor is private.
- Official figures drastically underestimate enrolment.
- Accountability to parents is key.
- Low cost private schools have better facilities.
- Children in low cost private schools outperform children in government schools.
- Low cost private schools are more cost efficient and effective than government schools.
- Low cost private schools are affordable by even those on minimum wage in Africa and India.
- Low cost private schools are philanthropic.
- International aid should encourage entrepreneurship NOT dependency.
- International aid should improve access to low cost private schools through market based initiatives.
The FMF’s subsequent media advisory was entitled FMF Luminary Award presented to Dr Pauline Dixon, poor children’s education champion and stated that: “For thirteen years, Dr Dixon has been … researching the availability, provision and standards of education in low-income communities throughout the world … Her findings … are extraordinary … Research from developing countries around the world is showing a burgeoning low cost private schools’ sector … Dr Dixon: ‘We see so much good in poor areas where markets are vibrant and people are working to find ways to obtain what they want and need and not sitting around waiting for the government to do something’ … in numerous low income and shanty towns in urban areas of Ghana, Nigeria, Kenya, India and China … they found … that around 60% of the schools were low cost private schools with around 65% to 70% of children in the area attending them … competition is rife … Competition stimulates innovation and quality so the owners and teachers maintain good standards in order to compete … As far as quality of education was concerned, Dr Dixon said, ‘We have tested around 32,000 children in Africa and Asia who attend government and low cost private schools. The subjects we examine are maths, English and home language. After controlling for school choice, family background and innate ability, we find the children in these affordable private schools outperform those in government schools at a fraction of the teacher cost. The children are typically one to two years ahead of their government school counterparts.’”
On September 12, Dr Pauline Dixon, Senior Lecturer – Director of Research, EG West Centre, International Development and Education, Newcastle University presented Private schools for the poor: Smiles, miracles and markets. Dr Dixon presented research findings from around the world gathered by herself, Professor James Tooley and the team at the Newcastle University over the last 13 years.
- On August 15, FMF submitted a comment to the National Treasury on the Carbon Tax Policy Paper, Reducing greenhouse gas emissions and facilitating the transition to a green economy.
- On December 15, FMF commented on the Draft 2012 Integrated Energy Planning Report.
FMF’s Energy Policy Unit (EPU) hosted two workshops this quarter:
- November 21: A small in-depth discussion to assess Eskom’s claim that the establishment of an independent grid will have a negative impact on Eskom’s balance sheet.
- November 27: The EPU’s annual policy strategy workshop.
Ad hoc media advisories
- July 9: Medupi is likely to cost 200% more than Eskom's original estimate and cost the economy a staggering R 1408 bn when the cost of unserved energy (COUE) is counted.
- July 16: The withdrawal of the ISMO Bill: good or bad news for SA?
PUBLICATION: Economic freedom of the world: 2013 Annual Report (EFW)
EFW is co-published annually by the FMF. This year’s South African edition was launched in Johannesburg on September 18 and was sponsored by the Friedrich Naumann Foundation for Liberty.
The key ingredients of economic freedom are choice, voluntary exchange, freedom to compete, and protection of persons and property. The index published in Economic Freedom of the World provides the most comprehensive and objective measure of economic freedom available.
Nations in the top quartile of economic freedom had an average per-capita GDP of $36,466 in 2011, compared to $4,382 for nations in the least-free quartile (in 2011 dollars). In the most-free quartile, the average income of the poorest 10% was $10,566, compared to $932 in the quartile with the least economic freedom.
The EFW index gives us a general measure of a country’s economic freedom as well as a more detailed breakdown into five broad categories and a total of 42 subcategories. Using the latest available data (which bring us up to 2011) this year’s report shows that South Africa increased its overall index score slightly from the previous year. But this still places South Africa in the third quartile of all the countries studied, ranking 88th out of 152 countries.
In none of the five broad categories does South Africa make it into the top quartile of economic freedom. The weakest category is “Size of Government,” particularly its subcategories of “Government Consumption” and “Government Enterprises and Investment.” What is most disturbing about these particular ratings is that they have been deteriorating since the year 2000.
South Africa has fallen significantly in four other EFW subcategories since 1995. Most glaringly, the rating for “Capital Controls” dropped from the already low level of 2 (out of 10) to the even lower 0.77 level, where it has remained since 2000. The increased burden of business regulation has resulted in a declining score for the subcategory of “Administrative Requirements.” Ever-present in the news, and perhaps worsening, are stories of labour unrest. The downward trend in EFW scores for “Hiring and Firing Regulations” as well as “Centralized Collective Bargaining” has been a clear predictor of not only increasing labour strife, but also the persistently high unemployment rates.
On September 18, Neil Emerick, FMF Associate, ran a TUTORIAL for journalists on how to use his software programme. The programme includes the EFW data and the World Bank Development Indicators and makes it easy for researchers to test the economic freedom variables against real-life outcomes. For example: Does more economic freedom create longer, healthier lives and higher levels of income? (The answer, by the way, is yes to both.)
The FMF’s media advisory was entitled Global economic freedom sees small increase; South Africa ranks 88th among 152 nations and stated that: “… South Africa ranks 88th out of the 152 nations and territories included in the Economic Freedom of the World: 2013 Annual Report … Last year saw Rwanda climb 33 places from 78th to 45th … and has now advanced to 36th. It has averaged +5% (per capita) growth since the financial crisis, while South Africa has barely achieved 1% … Mauritius moved into the top ten and has seen gross capital formation average 25% over the past 5 years … South Africa struggles at 19% … Jordan moved 31 places to 23rd in the rankings and has now advanced to 13th … Inflation remains just above zero while life expectancy averages 73 years … South Africans expect only 53 years … Venezuela has the lowest level of economic freedom worldwide, 7 with Myanmar, Republic of Congo, Zimbabwe, and Chad rounding out the bottom five countries … Research shows that people living in countries with high levels of economic freedom enjoy greater prosperity, more political and civil liberties, better health and longer life spans.”
Also on September 18, Azar Jammine, Director and Chief Economist, Econometrix, with Neil Emerick, launched the 2013 Annual Report.
This year, sponsored by the Friedrich Naumann Foundation (FNF), the FMF produced 150 memory sticks containing the South African edition of EFW 2013, an analysis tool comprising both EFW and World Bank data, and a screen shot PowerPoint tutorial that demonstrates how to use the analysis tool.
As an accompaniment to the memory stick, FMF printed 150 pamphlets comprising the preliminary pages from the South African edition: Foreword by Dr Richard Grant, FMF Publications Editor, and an in-depth analysis of the South African economy by Dr Azar Jammine.
The 2013 Annual Report includes two special chapters: (1) Institutions and economic, political, and civil liberty in Africa (eight of the countries in the bottom ten are located in Africa); (2) Economic freedom, democracy, and life satisfaction.
EFW is available from the FMF at R100.
Malaria conference and South African Medical Journal (SAMJ)
In early-October, in co-operation with the South African Department of Health and Africa Fighting Malaria, FMF participated in the Multilateral Initiative on Malaria (MIM) conference. FMF Director, Jasson Urbach, co-authored two chapters in the South African Medical Journal (SAMJ) prior to MIM: Chapter 1: Malaria in South Africa: 110 years of learning to control the disease. Chapter Six: Health promotion – from malaria control to elimination. Several op-eds resulted from the conference, including one by Jasson in The New Age: SA can show Africa how to eliminate malaria.
The Guardian: Global Professional Network Live chat
Health Policy Unit (HPU) Director Jasson Urbach was selected to participate on a live chat hosted by the Guardians Global Professional Network. Jasson was on a panel that focussed on fake and substandard anti-malarial medicines, the growing resistance to artemisinin, and what can be done about it. The live chat can be accessed here http://www.theguardian.com/global-development-professionals-network/2013/jun/27/tackling-drugresistant-malaria. Jasson’s subsequent post can be accessed here http://www.theguardian.com/globaldevelopment-professionals-network/2013/sep/02/fake-and-substandard-drugs.
Streamlining the Medicines Control Council (MCC)
The HPU has produced a document that proposes a fundamental change in the way the MCC approves new drug registrations. The HPU believes that patients in South Africa will gain quicker access to medicines if the MCC adopts the decisions implemented by a reference basket of countries. The HPU’s document recommends that the MCC should fast track new drug registrations that have been approved by two or more countries in the reference basket of countries.
HPU Directors, Eustace Davie and Jasson Urbach, alternated submissions to the Medical Chronicle over the period July 2012 to August 2013. In August 2013 the publication scaled-back it activities and changed the direction of the publication. As a result the HPU’s agreement with the Medical Chronicle was concluded. The Medical Chronicle was circulated to over 14,500 individuals including: GPs, specialists, medical schemes, the Department of Health, 8 private hospitals and the pharmaceutical industry. Each HPU article appeared in the lead area of the opinion editorial section.
The FMF continues to be the one of the few voices promoting and protecting intellectual property rights in South Africa. On October 17, FMF made a submission on the Draft National Policy on Intellectual Property. This was supported by an op-ed in Business Day: Intellectual property reforms will hurt the economy and is the forerunner of a bigger project on (health-specific) intellectual property rights.
African Liberal Network (ALN) conference and trade policy document
FMF drafted a trade policy document and presented the document at a conference in Zanzibar on December 6. The study showed that, besides other economic benefits, there is a statistically significant positive correlation between increased trade openness and improved health outcomes (measured in terms of life expectancy and infant mortality).
JOB CREATION / LABOUR
Media briefing and advisory
On November 13, Dr Sam Motsuenyane, Project Leader at Winterveld Citrus Farming Project, co-founder of NAFCOC, and recipient of the FMF’s fourth Luminary Award, and the FMF’s Honorary Life Vice-President, presented Creating a climate conducive to the development of black industrialists. He made the following points:
- The role of government is to create an enabling climate for growth and development by removing barriers to economic progress; there cannot be a solution to our country’s socio-economic challenges without high rates of economic growth
- The “economic crisis in Africa” according to Prof George Ayittey has been largely due to such internal factors as overregulation, corruption, enormous bureaucracies and inflationary fiscal and monetary policies
- To a great extent repressive laws can be construed as the unintended outcome of the considerable pressure- exerted on the government by trade unions
- Our present government has promised repeatedly to review and relax overregulation and red tape; it has not delivered on these promises and there has in fact been a continual increase in regulation
- Industrial parks, homeland growth points and border industries developed during the apartheid era are no longer operating due to stringent labour policies
- Largely derelict industrial areas such as Babelegi, Mogwase and parts of the Eastern Cape could be revived by turning them into Special Economic Zones; they already have infrastructure which is currently wasted and going to ruin
The FMF’s subsequent media advisory was entitled What should be done to create a climate conducive to the development of black industrialists?, and stated that: “… government should deliver on promises to lower the burden of over regulation and red tape … there cannot be a solution to socio economic problems without high rates of growth … disruptive laws are … directly accountable for the current loss of jobs and poor industrial growth … repressive laws can be construed as the unintended outcome of the considerable pressure exerted on the government by trade unions … existing bureaucracy and rampant corruption … create an environment where it is difficult for entrepreneurs to operate freely … industrial parks which were built and established by the Bantu Investment Corporation and other Territorial Corporations during the apartheid era were no longer operating due to the stringent labour laws and policies … government and the private sector should look to revive these areas and industries and take advantage of existing space and infrastructure available … creating a climate more conducive to the development of black industrialists, means more freedom and less interference from government … All laws or policies or actions which prevent this from happening must be abolished.”
For more on the FMF’s Labour Law Challenge (LLC), visit: http://www.freemarketfoundation.com/about/press-room.
Ad hoc media advisories
- July 22: Does South Africa now have a labour government?
- August 7: The Free Market Foundation announces significant updates to their High Court labour law challenge amid growing support to change the process of Collective Bargaining Council agreements.
- August 14: Cosatu applies to the High Court to intervene in Free Market Foundation’s legal challenge to collective bargaining law. FMF will not oppose despite solid grounds to do so.
- October 7: Respondents and Cosatu have not filed Answering Affidavits by the extended deadline, therefore the Free Market Foundation has decided to proceed to trial in its constitutional challenge to S32 of the Labour Relations Act.
- October 22: More local and international respected voices join the mounting calls to relax South Africa’s rigid and damaging labour laws. Government must listen.
- October 29: Delaying and diversary tactics at play to thwart the FMF from high court hearing.
- November 4: Free Market Foundation withdraws COSATU consent.
- November 26: Cosatu demands Free Market Foundation stop informing the media about union’s delaying tactics in labour court constitutional challenge.
FMF continues to argue that secure property rights represent one of the most important requirements for the protection of both economic freedom and civil liberties. The FMF remains concerned about the slow pace of land reform, especially as the solutions that exist require only political will to implement. The FMF proposes that:
- All black occupied council-owned urban plots be converted to full ownership (“freehold”) – FMF is working with Ngwathe municipality to convert 33,000 plots to full freehold.
- Superfluous government land be redistributed to the victims of apartheid as a substantial once-off compensation.
- Pre-emptive clauses be removed from existing and future RDP titles.
- In tribal areas, communities be allowed to grant private title over homesteads while maintaining communal rights over arable land.
- The Subdivision of Agricultural Land Act, 1970 be repealed to make it easier for poor individuals to finance smaller, more affordable plots of land.
Excess regulation remains a major concern. Instead of having benefits for consumers, red tape is proven to make things worse. In every case objectively measured consequences have been the opposite of what was promised or envisaged. Instead of insurance miss-selling and premature surrenders being halved as promised, they doubled in the wake of FAIS. Instead of consumer over-indebtedness and unsecured lending declining as promised, they skyrocketed after the introduction of the NCA. The tsunami of measures is effectively nationalisation by regulation.
On July 30, Paul Hoffman, Director, Institute for Accountability in Southern Africa, presented The proliferation of useless anti-corruption bodies in SA and what to do about it. He dealt with the following:
- It is raining new anti-corruption bodies in SA.
- The Public Service is to have an ACB (Anti-Corruption Bureau) and the SAPS want their internal “clean up” unit.
- Do not expect these to work any wonders in the war on corruption.
- The truth is that unless and until an independent entity is created that is specialised, trained, properly-resourced and clothed with security of tenure and the necessary clout, there will be no effective means of dealing with corruption. Unfortunately the political will to do this is lacking.
- The reasons for this and what is to be done.
Submissions and follow-up
- On August 8, FMF drafted a paper entitled Licensing of Businesses Bill is excessive: Existing official powers and remedies under current laws suffice, as a follow up to the FMF’s submission in April.
- On September 5, FMF submitted a comment on the Mineral and Petroleum Resources Development Amendment Bill.
- On October 16, FMF drafted a memorandum on the Financial Services Laws General Amendment Bill, as a follow up to the Law Review Project’s submission in April.
- On October 17, FMF made a submission on the Draft National Policy on Intellectual Property.
- On December 2, FMF made a submission on the Draft Regulations for the Planning Profession Act.
- On December 15, FMF submitted a comment on the Draft Integrated Energy Plan Report.
Cape Town Director Temba Nolutshungu met inter alia with the following:
- African Liberal Network to discuss trans-African trade policy (open trade).
- Centre for Chinese Studies to discuss Chinese Special Economic Zones.
On August 21, following the FMF’s AGM, Herman Mashaba, FMF Chairman, presented A South Africa that will make our children and grandchildren proud and Tom Palmer, Executive Vice President for International Programs at Atlas Economic Research Foundation & Senior Fellow at Cato Institute (USA), presented The morality of capitalism.
Herman Mashaba touched on…
- The road to real freedom.
- Free to choose.
- Jobs for all.
- Colour-blind society.
Tom Palmer touched on…
- The paradox of morality.
- Voluntary interaction and self-interest.
- The culture of liberty.
- The myth of greed.
- Competition and cooperation.
- The virtues of entrepreneurial capitalism.
- For-profit medicine and the compassion motive.
- The market economy and the distribution of wealth.
- Global capitalism and justice.