Economists say the EFF's election manifesto is impractical and populist

Economists say the EFF's election manifesto is impractical and populist

- The EFF revealed its election manifesto over the weekend

- However, some experts have expressed doubt about the feasibility of its policies

- Others have called it aspirational rather than realistic, and a ploy for votes

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Several economists have shared their thoughts on the EFF's election manifesto, with many calling it populist and unrealistic.

The manifesto, unveiled this weekend, included major increases in the minimum wages of several professions. Mineworkers, for example, would have a minimum salary of R12 500. 

Multiple experts have called the proposals unfeasible, and said that a better plan would be to improve the skills of the country's workforce.

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The manifesto included other radical policies that seem difficult-to-impossible to implement, such as ensuring that all banks and financial institutions shift to majority black ownership within a year. Another is the proposal to nationalise all land, essentially handing all property over to the state. 

The manifesto suggests that a 'People's Land Council' will oversee the nationalised land - a council over which the EFF top brass would have final say. Some commentators have expressed concern that this would create opportunities for corruption.

Others have pointed out that the manifesto is a populist document and that it is more aspirational than practicable.

It appears that the proposals are geared toward the large number of South Africans who still struggle economically. Whether the EFF's proposals would actually help these citizens is still up for debate.

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Economists like Thomas Sowell have argued that higher minimum can protect the employed at the expense of those without jobs, driving up unemployment.

Political scientists like Francis Fukuyame have pointed out that secure property rights are essential for a healthy economy, and that nationalising land could have disastrous consequences. 

Despite the EFF's radical promises, it remains to be seen how voters will respond once election time rolls around.

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Source: Briefly News

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