Finance Archives - ROAPE
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Finance Tag

The public debate on South Africa’s ‘social grant saga’ portrays the case as a typical example of political corruption, personal incompetence and corporate greed. However, as Lena Gronbach argues, behind the headlines is an agenda developed by the World Bank in the early 2000s, which sees poverty as a problem of financial exclusion and restrictive financial markets, rather than the result of deeper structural issues and the lack of a regular and adequate income. This has been nothing short of a fundamental shift in development policy. By Lena Gronbach In 2012 South Africa’s Social Security Agency SASSA appointed Cash Paymaster Services (CPS), a private financial service provider, as the sole paymaster for the country’s extensive and rapidly expanding social grant programme. This move was designed to address concerns about payment efficiency, high levels of grant fraud, and the fragmented nature of the previous provincial grant payment system...

From the editorial to issue 156 of ROAPE, Peter Lawrence discusses articles that examine the state and global capitalism. Included in the issue are papers which look at how the colonial and post-colonial states in Malawi have pursued policies that have been in the interests of the tobacco industry, state capture in South Africa's motor industry and the history of capital controls. While the Debates section is devoted to the ROAPE/Third World Network workshop on radical political economy and industrialisation in Africa held in Accra last November. ...

In a debate on roape.net, David Harvey replies to John Smith’s critique of his work. Marxism, Harvey argues, must not start with concepts and then impose them on reality, but with the realities on the ground. To start with concepts, as does John Smith, is to engage in rank idealism. Harvey challenges what he describes as ‘Smith’s crude and rigid theory of imperialism.’...

In this far-ranging analysis of recent events in South Africa, Elizabeth Cobbett argues that a ‘soft’ coup is effectively taking place. Cobbett argues that an ‘oligarchical coup’ is being carried out by wealthy families and senior ANC figures, with Zuma at the heart. The Gupta family’s power to replace key ministerial positions is a graphic example of the operation of this coup, as the wider ANC remain passive or, through Zuma, complicit. ...

In the first of three essays, Gary Littlejohn outlines the context in which the recent widely publicised BRICS initiatives have been taking place. In particular, the inauguration of new international banks is seen as a response to the dominance of Western finance capital and the failure of the so-called ‘Washington Consensus’ neoliberal orthodoxy that has produced negative economic effects worldwide, but nowhere more so than in developing countries....