Boardroom Talk
Boardroom Talk – Another Zuma mistake, this time his deployed PP, has cost SA R200m
The young democracy is starting to learn some very hard lessons. Helped by SA’s Treasury running out of money.
By Alec Hogg
In the real world, spendthrifts are objects of ridicule. Our languages are peppered with idioms about perils of overspending. For hundreds of years, authors have warned of its danger. Indeed, until the mid-19th century, in civilised countries spending more than you earned landed you in debtors prison – or worse.
Yet in South African politics, such profilagacy has been celebrated. Perhaps it is because the interests of those who pay the bills are not aligned with those who elevate Big Spenders into positions of power. So taxpayers shug their collective shoulders at Nkandla, Medupi, Kusile, SOE bailouts and expanding public wage bills.
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