Mbeki warns against use of ‘white monopoly capital’ phrase

Former President Thabo Mbeki has warned against the use of “white monopoly capital” phrase and says it is “an abuse of a phrase which was used in scientific economic literature”.

Mbeki was interviewed by Power FM chairperson Given Mkhari on Thursday.

The former president said the focus should not be on catch phrases like white monopoly capital but on the capitalist system itself.

“Let us understand properly what is happening to this capitalist economy so that we can intervene to do the right thing because if we misdiagnose the problem the cure is going to be wrong,” said Mbeki.

“So when somebody comes to you to say the principal enemy of the national democratic revolution is white monopoly capital and things like that, I know the role of monopoly capital,” he continued.

Mbeki also addressed the criticism that some of the policies he adopted during his presidency were based on a false belief that HIV does not cause AIDS.

“There was an issue that was raised in the literature that some of these AIDS drugs had a very high toxic effect and then I said that the matter must be looked at because it may be that it is the drug that kills the people rather than the illness because of the toxicity of the drugs,” said Mbeki.

“As it happened with that, particular drug they actually reduced the dosage globally because the allegation that it was highly toxic was correct,” he continued.

The former president has been previously criticised by many, including the United Kingdom for encouraging Zimbabweans to decide their future during his term.

“It is the responsibility of the people of Zimbabwe to determine their future. It is the responsibility of the people of South Africa to determine our future. An apartheid South Africa very different from independent Zimbabwe. Of course, you can impose sanctions on Apartheid South Africa but let the people of Zimbabwe sort this thing amongst themselves,” said Mbeki.

“An external solution that gets imposed on people the locals will not take ownership. The owners of the problem must own the solution”, he continued.

We make it make sense

If this story helped you navigate your world, subscribe to the M&G today for just R30 for the first three months

Subscribers get access to all our best journalism, subscriber-only newsletters, events and a weekly cryptic crossword.”

Given Sigauqwe

Related stories


Already a subscriber? Sign in here


Latest stories

Why government would fall short of cash if the fuel...

But restructuring the Road Accident Fund levy would reduce pressure on consumers

Gordhan’s Eskom ‘blame game’ underwhelms ANC leaders

Sources at a meeting of the national executive committee said a call was made to shift the power utility to Gwede Mantashe’s ministry of minerals and resources

Is your laptop tough enough for the pressures of the...

What is military-grade testing, and why should you opt for a device that’s been put to the test?

UK drivers in go-slow protest over surging fuel prices

Rail workers have already staged a series of stoppages to press for better pay as Britain's headline inflation reaches a 40-year high

press releases

Loading latest Press Releases…