Photo by Jason Leung on Unsplash

It seems like an endless loop of discussion. Outrage over a monetary system that benefits a few bankers, at the expense of society as a whole when it all goes wrong. Public goods are difficult political and economic problems to deal with, as is anything where the system’s incentives are inherently misaligned. This debate as it relates to money is hundreds of years old. The latest iteration has two contenders for a new way of managing the system: Using crypto (which I’ll term the Bitcoin system for simplicity) to remove government’s involvement entirely, or embracing MMT, which recognizes and enhances…

When COVID-19 hit SA’s shores and it looked more likely that SA would institute an early shut down, my immediate concern (besides the obvious health worries about those directly affected) was how the government would support the economy given the state of public finances and the economy. I for one advocated the central bank buying up government debt, the risk of drastic currency devaluation being worth it. …

Democracy not winning at the moment

I have long criticised the one party state of South Africa, arguing that we are in fact stuck as faux democracy with little prospect of economic growth and progression until the political landscape actually gets competitive. I saw no absolutely no benefit to our political set up and worried that Britain was heading the same way with the disastrous performance of Labour in the last election. I have changed my view. There appears be a major benefit of a one-party state and that is in the time of genuine crisis. …

An oft discussed topic around the South African dinner table is the ‘are you staying or leaving debate’. It’s unsurprisingly polarising and generally attacked from a passionate standpoint. I’ll wade in.

First, I must set the stage. People come and go from all countries. Plenty of people leave for perfectly understandable reasons such as career, personal love or a sense of connection with a place they visited and couldn’t leave. This type of emigration is normal and uninteresting to a debate. But is often brought into the South African discussion, confounding it. I will speak of it no further here.

James Lightbody

What’s not to be interested in? Evolution, economics, politics, psychology, venture. Let’s go!

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store