Construction creates opportunities for artisans and labourers. In Islam, creating work is an act of worship, as it allows those who need employment to have dignity.
When those who increase product prices for massive profit, it is a problem. As a capitalist, I believe that making a reasonable profit inspires entrepreneurship and generates innovation. However, exploitative capitalism, where only a few benefits and many suffer, is counter-productive and dangerous.
Many artisans are not necessarily business people. They do good work and need employment, as they cannot necessarily generate their own employment, since not everyone has business skills.
With increasing building costs, thousands of construction projects are being stopped as homeowners and developers “wait and see”. Thus, thousands of people who need work are currently unemployed.
For a few wealthy people to have so much power over many others cannot be good for society. For example, there is one company that manufactures and sells cement in Cape Town. A few companies supply concrete. When these companies increase prices, we are literally held hostage.
We have seen massive increases in the cost of electricity and home loan rates. Bankers make huge profits, while society has no alternative. What are people to eat when 10kg of potatoes cost R100, 18 eggs cost R50, and a loaf of bread is R20?
Why is a parcel of hake and chips R100 when the ocean is on our doorstep? If our best fruit, vegetables, and seafood products are exported, why are we paying so much money for lower quality food?
Our democratic capitalist system is failing because it has been hijacked by a few individuals. Corruption and greed are taking South Africa towards civil unrest that is preventable. The media must investigate those responsible for the increasing cost of living.
* Cape Muslim Congress councillor Yagyah Adams.
** The views expressed here are not necessarily those of Independent Media.
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