In a recent article (abridged in the Cape Times, 20 January 2014) Professor Jane Duncan pointed to the fact that although socialist ideas are widely espoused by the masses there is little reference to socialism in most of our media. She says that objective viewers "would probably conclude that socialism was consigned to the dustbin of politically bankrupt ideas long ago."
She sees the National Union of Metal Workers' (NUMSA) decision to abandon the ANC as "a turning point for the country's politics" because of its resolution "to explore the establishment of a movement for socialism." However, when left-wing commentators and organisations like NUMSA refer to "socialism" they generally mean "communism" - and not European-style democratic socialism. Irvin Jim - the Secretary-General of NUMSA - made it clear to me in a radio debate last year that he supports the establishment of a communist society in South Africa and views Cuba as a role model. The same is broadly true of COSATU, which has committed itself "to build Marxism-Leninism as a tool of scientific inquiry" and to "build a socialist movement coalescing around the SACP." At its 2006 Congress, COSATU asserted that "the dictatorship of the proletariat is the only guarantee that there will be a transition from National Democratic Revolution to socialism."
The reason why articles propagating this type of "socialism" (i.e. communism) have little traction in most of our media is because all past attempts to establish "socialist" societies have without exception ended in poverty, stagnation and totalitarianism. Free markets on the other hand are not an artificial construction but are the natural and universal mechanism for human economic cooperation. They rest firmly on transparent self-interest in which people and companies compete freely with one another to provide better and cheaper goods and services to the public. In pursuing their own interest - as Adam Smith observed - people frequently promote that of the society more effectually than when they really intend to promote it. He added that he had "never known much good done by those who affected to trade for the public good."
Free enterprise is the only proven vehicle for the generation of wealth and genuine economic progress. It is a vehicle that can be driven recklessly by greedy and irresponsible bankers - as was undoubtedly the case in 2008. However, the main causes of the 2008 crash were firstly, the disabling of the vehicle's brakes by the "too big to fail" approach of governments; and secondly, the failure of the regulatory traffic police, who instead of imposing a reasonable speed limit, encouraged reckless driving by guaranteeing enormous volumes of worthless mortgage bonds.
Nevertheless, Prof Duncan does have a point. There is an alarming disjuncture between the socialist and populist perceptions of the masses and the more informed media debate on economic issues. Our failed education system has left millions of South Africans particularly susceptible to the superficially appealing nostrums of socialism. They are easily seduced by ideologies that promise immediate short-term benefits through the distribution of property that belongs to others. People like the idea of struggling against "evil oppressors" - caricatured as "imperialists" and "monopoly capitalists".
The problem is that this process is invariably destructive of the long-term interests of all those involved - and particularly of workers and the poor. Irresponsible trade unions and rigid labour markets are among the main causes of South Africa's unsustainable levels of unemployment and its failure to attract the foreign investment that is essential for sustained economic growth.