LATEST NEWS FROM PARTNER CAP X
15 May 2017
What Warren Buffett gets wrong about capitalism - Labour's manifesto takes the voters for fools - Moon's Sunshine Policy is just appeasement - Will the rainbow nation end up on the ash heap of history? - Is colonising space economically viable?
The case for capitalism - as opposed to socialism - is generally thought to be results-based. Socialists may mean well, but capitalism works. That may be true, but why should defenders of the market concede the moral high ground? The pursuit of equality tends towards dictatorship, is grossly unfair and morally corrupting. Far from fostering brotherhood between people, it makes them suspicious and resentful.
The Labour Party's leaked manifesto claims to be "fully costed, with all current spending paid for out of taxation or redirected revenue streams". But the numbers just don't add up - even with Diane Abbott doing the maths. The manifesto is full of nice-sounding spending pledges - who wouldn't want to insulate veterans' homes? - and pledges to reverse evil Tory cuts, but is all but silent about where the money will come from.
South Korea's new President, Moon Jae-in, was swept to power on a promise to change a corrupt political system and turn around a faltering economy. But the most consequential - and controversial - part of his pitch to the electorate was his determination to thaw relations with the North. Given the Kim dynasty's brutality, not only is such a rapprochement doomed to fail, it is morally objectionable.
The ANC, which has been in power since 1994, promised South Africans prosperity and tranquillity but has delivered neither. As the protests over the country's economic slide rumble on, Jacob Zuma is pandering to the hard Left by race baiting. The President has thrown his weight behind the expropriation of white-owned farmland without compensation. Sadly, the rainbow nation is starting to resemble Zimbabwe.
For some, including Stephen Hawking, colonising other planets is essential to the survival of the human race. For others, it is a ludicrous pipe dream. Do the great civilisational projects of the past offer any clues as to the idea's feasibility? When you consider, for example, the amount of time and money the ancient Egyptians spent on the pyramids, making Mars habitable doesn't seem entirely out of our reach.
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