First of all I would like to state that the purpose of my article was to support government’s involvement in the mining sector; to draw parallels between neo-liberal capitalism and socialism; to advocate for the application of best practices that both systems could offer and the advocacy for reparations against colonial plunder. McCarthy’s opinion on reparation is an aspect that I failed to detect in his response to my article.
I do not agree with McCarthy’s blanket and pedantic application of socialism as it might compromise opportunities that present best practice offered by capitalism.
I have always been a pragmatist and believe that even socialism in its current form has to learn from the best practice offered by neo-liberal capitalism of which some examples are alluded to in my article.
On human rights, the reason why I stated that neo-liberal capitalism promotes human rights is self-evident in the constitutions of countries which apply human rights as prescribed under the neo-liberal order though I would further argue that much still needs to be done. In light of that I will argue that political rights have to be accompanied by economic rights in order to do a way with inequalities worldwide.
Corruption is a cancer that I oppose but for the sake of maintaining focus in my article I could not dwell on it. However, I will advocate that all the relevant mechanisms from whistle blowers, the law enforcement agencies and individuals should take a stand against the rot including instituting punitive measures against culprits irrespective of rank.
I support innovations and believe that in this case the neo-liberal environment has done a lot in providing a conducive product development platform for innovations. This development has my support as it is more rewarding than spending billions of dollars in espionage security and military sector innovations.
I do not support the financial tools of capitalism such as securitisation, derivatives and credit default swaps which are presented as innovations by the financial sector for the fact that they do not benefit the poor but the financial predatory financial market analysts and speculators and the global money power.
In this case any movement towards the Third World’s full integration in the world economy and Africa’s in particular shall require a new form of financial architecture that guarantees among others one global currency and a fair and just trading system.
Lastly, socialism should be seen as an ideal whose implementation will need to consider the application of practical tools and mechanisms. Certain tools have universal applications and as such should be identified in order to create a humane and equal society.
In this case a symbiosis of tools and mechanisms which are feasible and viable need to be taken into consideration to turn theory into praxis. Let socialism be established worldwide and let its implementation be in favour of the spiritual, ecological, ideological and human development expectations and progress of all in order to maintain a balance.