By Fanie Brink    08 OCTOBER 2018 – 05:04 Business Day

I am an agricultural economist with more than 40 years’ experience. I am also one of 30 economists who participate in the Netwerk24 Economist of the Year competition to predict the outcome of a couple of economic indicators, and therefore have to keep myself updated on current issues in the industry. Shawn Hagedorn’s most recent article is my “article of the year”.

It should be read and reread by the ANC in particular, although they are unlikely to understand it and will prefer to keep the totally useless National Development Plan.

All I can add to Hagedorn’s piece is the fact that all economic activities are inspired and stimulated by the profit motive, without which there is no chance that there will even be products to export or address unemployment.

Economic growth is driven by profits, which can only be created in a capitalist economic system, as proven all over the world. In other words, economic growth is totally dependent on the profitability of the economy.

How can the whole world be wrong? China has embraced capitalism and it is generally expected that it will soon become the major economic power in the world.

Fanie Brink
Bothaville

Published in Business Day