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Braamfontein
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- Amandla! Alt Media #5
| Brian Ashley on economic crisis & community media |
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| Written by Administrator |
| Monday, 19 October 2009 08:00 |
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Brian Ashley of the AIDC outlines the economic context confronting community media in South Africa in 2009. He argues that the current economic crisis (company bankruptcies, hundreds of 500000+ job losses, recession, government forced to take out massive loans from the IMF, etc) is caused by shift in production from the west to the east, while the west continues to consume and can only finance consumption by borrowing from the east. Secondly there is a shift from investing in production to investing in financial institutions that do not produce anything. Thirdly there is massive redistribution in wealth from the poor to the rich that see the gap between rich and poor growing wider.
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