‘Smart redistribution’ can make life better for everyone (including The Rich)

Bruce Whitfield interviews UP's Prof Lorenzo Fioramonti about “smart redistribution”.

There is so much scientific evidence that inequality is detrimental to everyone!

Lorenzo Fioramonti, University of Pretoria

Out of self-interest the wealthy people in South Africa should be the first to demand smart redistribution.

Lorenzo Fioramonti, University of Pretoria

I propose a system of taxation where taxpayers know fully where the money goes, and even decide where it goes.

Lorenzo Fioramonti, University of Pretoria

It’s hard to have a rational discussion about redistribution in South Africa.

So says Lorenzo Fioramonti, Professor of Political Economy and Director of the Centre for the Study of Governance Innovation at University of Pretoria.

More often than not, frank debate is tainted by ideology, political score settling and, perhaps, a bit of racism.

If we are serious about building a bright future for South Africa, says Fioramonti, we need to bridge cultural and ideological divides.

The Money Show’s Bruce Whitfield interviewed Fioramonti for his weekly “The Science Of” feature.

Fioramonti spoke about “smart redistribution”.

Listen to the interview in the audio below (and/or scroll down for more quotes from it).

‘Redistribution’ shouldn’t be a swearword.

Lorenzo Fioramonti, University of Pretoria

BEE had a good objective, but it didn’t change the structure of the economy.

Lorenzo Fioramonti, University of Pretoria

You can redistribute wealth, income and opportunities.

Lorenzo Fioramonti, University of Pretoria

Redistributing opportunities means changing the structure of the economy.

Lorenzo Fioramonti, University of Pretoria

We need an economy that incentivises small and medium enterprises.

Lorenzo Fioramonti, University of Pretoria

The future is about economies that can generate as many jobs as possible… Big industries are no longer able to do that.

Lorenzo Fioramonti, University of Pretoria

The economy is completely tilted towards large conglomerates.

Lorenzo Fioramonti, University of Pretoria

During the Great Depression the capitalist US government introduced a 90% top income bracket tax rate.

Lorenzo Fioramonti, University of Pretoria

We need full cost accounting…

Lorenzo Fioramonti, University of Pretoria

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