The perils of economic illiteracy

President Robert Mugabe was appointed interim vice-chair of the Common Market for Eastern and Southern Africa (Comesa) this week, eliciting an amusing bout of self-congratulation from a glory-starved government and its faction-driven megaphones.

Candid Comment Brezhnev Malaba

Milking this “remarkable diplomatic feat” for all it’s worth, Foreign Affairs minister Simbarashe Simbanenduku Mumbengegwi waxed lyrical, hailing Mugabe for “bequeathing” Africa the “legacy” of industrialisation. Well, either Mumbengegwi knows a different definition of industrialisation than the rest of us or — as I suspect — he has not read the newly released 2016 Zimbabwe National Competitiveness Report.

The report, compiled by the government-controlled National Economic Consultative Forum, disproves Mumbengegwi’s claim that Mugabe has anything useful to teach Africa on how to industrialise. In fact, and as the public record shows, Mugabe’s ruinous economic policies have led to the catastrophic de-industrialisation of Zimbabwe.

Wider Africa is equally dismal. Here is a sobering set of statistics: Africa, a continent of 54 nations, has a combined Gross Domestic Product (GDP) of US$2,24 trillion. France, a single European nation, has a GDP of US$2,42 trillion. You do the math.

In today’s Zimbabwe, where secrecy dominates over openness and the abnormal is normalised, one of the strangest myths that have shaped life as we know it, is the hare-brained slogan that “agriculture is the backbone of the economy”.

There is no better evidence of the Zanu PF government’s illiteracy on economic logic than this tired mantra which — if truth be told without fear or favour — has seen better days and is now being recycled in a scandalous ploy to hold hostage an entire nation.

Agriculture, thanks to unworkable policies that have decimated the sector, is now only 12,7% of GDP. The services sector is now 64% of GDP. Where on earth do Zanu PF mandarins get the fallacy that “agriculture is the backbone of the economy”?

Zimbabwe has a president who boasts seven university degrees. Almost everyone in Cabinet has a doctorate. And yet, when it comes to understanding and managing a 21st century economy, the whole lot is utterly clueless. Countries with uneducated leaders seem to be faring much better than us.

One of the attributes of a sound mind is the ability to distinguish folklore from reality. In that connection, the chief purpose of a government is to determine viable economic policies.

Our leaders resemble a modern-day Sisyphus who expends a great deal of energy trying to roll a boulder uphill, only to see it slip from his shaky grasp and flatten him. They repeat this futile manoeuvre, over and over again.

Frederik Bastiat’s incisive observation comes to mind. Zimbabwe’s rulers want to live at the expense of the state, and yet they forget that the state lives at the expense of everyone.

6 thoughts on “The perils of economic illiteracy”

  1. Kumama says:

    I agree with the above writer. We mugabe is several pages behind the ordinary person in zimbabwe when it comes to areas like economics and finance! Its only that politics overides everything. Jus give me a second to run the economy and you will see wonders

  2. Mr writer are you not the same Brezhnve who was singing Zanupf praises not so long ago from the Zimpapers corner? Ok so its all about knowing where your bread is buttered. You will be amazed with the kind of trash Joram Nyathi is now spitting at Zimpapers. I have no doubt if some clueless fella called Tendai Mugabe where to find himselve employed by Alpha Media he will do the same. Is it that animal called editorial policy? Educate me for I am an engineer

  3. C Frizell says:

    This is really sadly funny, as we are probably the only country in the world to have a Ministry of De-Industrialization ( but called indigenisation) And we even have a Mini-Star of De-Industrialization!

    And in this same paper today we hear of yet more Land Grabs – when the country is begging food aid.

    Truly, there is NOTHING as stupid as a Zanoid!

  4. Rolf says:

    So much for COMESA Vice-Chairmanship. That Old Fool was only made Vice-Chair for the duration of the 2 day conference. The official Vice-Chair, it turns out is the president of Burundi who had failed to attend the conference for “due to a busy schedule” – no doubt busy implementing his unelected corrupt rule over Burundian people!! Wouldn’t it be just be amusing if The Old Fool refuses to give back the Vice-Chairmanship to the “properly elected person” – the Burundi president!!

  5. Pepe says:

    Have a hunch the old man and his family, and cronies will put their long theiving fingers in Comesas money

  6. Brezhnev shallow analysis.same old narrow hate mantra,copying accepted agitator lines.horn your game.

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