South African Reserve

THE IRONY OF CAPITALIST LOGIC

Neo-colonial governments in Africa are always trying to satisfy the needs and wants of the so called investors. There are two important constituencies in the minds of these puppets governments, namely tourists and investors. All institutional development viability is justified on the basis of these two pillars of economic mirage.

The recent jitters in international equity markets are evidence of crazy logic of international capitalist system. Why should Stock Market Index have a free fall in Africa or Brazil when America Companies have failed to manage the granting of loans? Why is it that when American corporation’s management steals from investors locally, the Stock Market in so called developing markets plunges? Why is it that when evidence of corrupt practices which caused the collapse of Asian Tigers a decade ago do not have the same effect on American accounting scandal? There are many examples of such inconsistencies and double standards.

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