Nationalisations - Essay

NATIONALISATIONS
class, but should be accompanied with nationalizing banking and major industry in the interests of the masses. This would be the only way to realise the Freedom Charter’s demand that “The mineral wealth beneath the soil, the Banks and monopoly industry shall be transferred to the ownership of the people as a whole.”
Botswana is a poor example, and it is important that we reiterate this. The fact that the Botswana government has a 50% share along with DeBeers in Debswana does not mean that the people of Botswana are benefitting from the fabulous wealth produced in that country’s diamond mines. Botswana has an unemployment level ranging between 25% and 30%, it has the highest poverty gap in the world, it has after South Africa and Swaziland the highest HIV/Aids infection rate, almost half of households in Botswana live below the official poverty datum line, and most households do not have water borne sewage. At the same time it has had one of the highest economic growth rates in Africa over the past two decades. Given that it is a capitalist country the economic wealth generated in the country is usurped by a comprador bourgeoisie and international capital. The state’s role in the economy is to police the Botswana public in general and the working class in particular – “creating favourable conditions for investment”. State ownership is not the answer if the state is an instrument of the capitalist ruling class. Only when the state becomes the instrument of the working class intent on abolishing class exploitation and oppression, and redirecting the income generated by the economy in general and mining in particular to address the challenges of poverty, unemployment, disease, illiteracy, environmental destruction will the socialization of the mining industry be useful.
If we are going to demand socialization then we need to fill this vague term out with concrete demands. Mining in South Africa will only benefit the majority of South Africans if it...