New Zimbabwe President seeks reconciliation with West, will compensate white landowners

“Every man got a right to decide his own destiny,

And in this judgement there can be no partiality…”

-Bob Marley, from the song ‘Zimbabwe’

What holds back so much of the developing world?

Lack of rule of law.

If one owns something but it can be taken at any time by the local “chief” one isn’t going to invest much in such a place. If one signs a contract but contracts are regularly ripped up and forgotten, one is unlikely to sign many contracts in the future. This is the great danger of crony capitalism.

Zimbabwe was supremely crony capitalist. (Though Mugabe sold it as standard [non fascist] socialism.)

We’ll see if this Mnangagwa can move things in a more positive direction.

(From The Australian)

The new President of Zimbabwe has promised to compensate the white farmers whose land was seized under the Mugabe regime as he appealed for Western sanctions to be lifted and for foreign investors to help to rebuild his shattered country.

Emmerson Mnangagwa pledged to repay the 5000 people driven from their land after Robert Mugabe encouraged liberation war veterans and poor blacks to seize farms, machinery and crops from their white neighbours.

Mr Mnangagwa, 75, a feared enforcer for Mr Mugabe who is known as “The Crocodile”, vowed to be a president for “all citizens, regardless of colour, creed, region, tribe, totem or political affiliation” as he was sworn in at the national sports stadium in Harare in front of 60,000 people.

Click here for the article.

This video is from an another era. When many people had hope for the new Zimbabwe and in Mugabe. May the people of Zimbabwe at least move closer to the spirit below this time around.

http://www.againstcronycapitalism.org/