A Quote by Thabo Mbeki
We can't treat the matter of black economic empowerment as just the redistribution of existing wealth. It really has to focus on new investment, on growth, on development of employment and so on and so on.
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I think the critical point, really, is that we need to focus black economic empowerment more on the creation of new wealth rather than on these big deals that have been characteristic of this process in the past, of people going to banks, borrowing a lot of money, buying this and when the shares don't perform very well, the shares go back to the banks, because there's other people who own this anyway. I think we need to re-focus it so that it really does impact on growth, new investment, new employment and a general, better spread of wealth in South Africa.
We conclude that the concentration of wealth is natural and inevitable, and is periodically alleviated by violent or peaceable partial redistribution. In this view all economic history is the slow heartbeat of the social organism, a vast systole and diastole of concentrating wealth and compulsive redistribution.
We need economic growth, yes, but growth can be jobless, so a sustainable development framework for employment must include a job creation strategy.
Infrastructure investment can boost economic growth and employment, and, in fact, it is fiscally neutral.
It turns out that advancing equal opportunity and economic empowerment is both morally right and good economics. Why? Because discrimination, poverty and ignorance restrict growth. We know that investments in education, infrastructure and scientific and technological research increase growth. They increase good jobs, and they create new wealth for all of us.
Investment in our people through education, no matter at what level, is an investment in economic development.
Fairness does not require the redistribution of wealth;
it requires the creation of wealth, geared to an economy
that can provide employment for everyone able and willing to work.
Economic growth without investment in human development is unsustainable - and unethical.
It turns out that advancing equal opportunity and economic empowerment is both morally right and good economics, because discrimination, poverty and ignorance restrict growth, while investments in education, infrastructure and scientific and technological research increase it, creating more good jobs and new wealth for all of us.
Expansion and modernization of the nation's productive plant is essential to accelerate economic growth and to improve the international competitive position of American industry An early stimulus to business investment will promote recovery and increase employment.
Shifting towards low-carbon energy systems can avert climate catastrophe while creating new opportunities for investment, growth, and employment.
We raised the matter of an agreement that was reached at the Growth and Development Summit, which was that we should access a certain part, 5% was mentioned, of the funds in the hands of the institutional investors, domestically, for investment in the real economy. That being an agreement of the Growth and Development Summit, we will engage South African business to see how we can make that a practical thing. So, there is a different set of engagement with local business.
The government must nurture an eco-system where the economy is primed for growth; and growth promotes all-rounddevelopment. Where development is employment-generating ; and employment is enabled by skills. Where skills are synced with production; and production is benchmarked to quality. Where quality meets global standards; and meeting global standards drives prosperity. Most importantly, this prosperity is for the welfare of all. That is my concept ofeconomic good governance and all round development.
Our new economic approach is rooted in ideas which stress the importance of macro-economics, post neo-classical endogenous growth theory and the symbiotic relationships between growth and investment, and people and infrastructure.
Continuing economic growth requires both recruitment of new companies and expansion of existing businesses.
The way to get a maximum rate of 'economic growth' assuming this to be our aim - is to give maximum encouragement to production, employment, saving, and investment. And the way to do this is to maintain a free market and a sound currency.
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