8. Ben Turok - First annual Peter Knottenbelt Lecture
29 October 2012
University of Johannesburg - Doornfontein Campus.
Spoke about "bottom-up" economics.
He said we all believe in the market; but that we have imperfect markets dominated by monopolies.Though he does not believe in Nationalisation - we need to decide "Where, how, how much we need to intervene.
We should not talk about beneficiation but of value addition.
We should have a development policy.
Africa should develop a "strategic sense"
Marikana is a symptom of the fact that we have gone wrong.
During question time.He spoke to a farmer about how he decides on what he produces. The farmer indicated that he produces "what Pick and Pay tells him to produce" When I said that "the consumer, you and I tell Pick and Pay what we want, he disagreed and then went on to tell the story that in Europe all the vegetables are uniform - as another example of how decisions are made for us. There I retorted by saying that they were just following EU rules...
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