ME AND MY EMPLOYER STEAL FROM SOUTH AFRICA Confessions of the black middle class: They steal, kill but I am happy they pay my salary and and are my employer of choice… Today it is time to force people “to think outside box”. Every day individuals post all sorts on their Facebook walls and Twitter timelines. One of the things people to talk about is corruption and incompetence in the organs of state. It is natural for us to criticize the obvious but we seem less oblivious to the unconventional, such as corruption by the private sector and multinational corporations in our countries. Corruption by companies tends to cost the country more than we can dare imagine. Many of us are employed by big corporations like Sasol, SAB Miller, Vodafone, Rio Tinto, Anglo-Ashanti, Coca-Cola and a plethora of glamorous names in the world of business. The character of these entities is such that they pay good money to keep their employees in check. As vocal as many of us are when it comes to public institutions, we are however not prepared to talk against what is clearly acts of crime that our employers commit. The truth is that big corporations and foreign direct investment (FDI) do not bring the benefits that we are often told about in economic and business literature. The rhetoric of skills, technology and jobs in most often conceals the real mess the corporations, as carriers of FDI, create in developing countries. These companies and ‘mother countries’ act in unison in defrauding most developing nations. Capital flight in particular – with transfer pricing being an important channel – has been endemic in South Africa for a considerable time. What is particularly disturbing from these figures is that the rate of loss increased enormously during the life of our new country – from 9.2 percent in 1994 to 23 percent in 2007. This coincides with many the application by former South African companies to relocate their headquarters and to list in places like London, New York and elsewhere, under the pretext of sourcing more capital in primary capital markets. Yet most of us choose to ignore this fact and prefer to spread lies instead. The impacts of multinational corporations on developing states would be less without predatory tendencies of elites and middle classes in our countries. Elites and middle classes are happy with rents and exorbitant salaries, respectively. This explains why they would rather hit their governments hard and turn a blind on bad behaviors of private capital. And, all of us wake up everyday and claim to go to work, yet we are part of a huge scam that makes millions of our people poor and hungry. Read more here ~ wp.me/p2LEEZ-gH
Posted on: Sat, 10 Jan 2015 06:38:17 +0000
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