Articles
Capital, not consumption: The only engine of real SA growth
Real growth starts with real saving, not spending.
10 December 2025
Real growth starts with real saving, not spending.
Cut subsidies, dismantle political monopolies, and hand sectors like power to owners who bear the risk of failure.
But your wallet doesn’t care about theory.
When a state spends, it’s not “investing” in anything.
The refusal to accept Say’s simple wisdom is what leads to deficit spending or trading speculative assets forever.
If South Africa wishes to achieve real, sustained growth, it must abandon the Keynesian fixation on aggregate demand and GDP gimmicks.
In this light money is just the tool we use to exchange value, not the value itself.
Supporters of the AfDB loan argue that future growth will exceed the interest schedule.