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SOCIALISM is unrealistic and alone cannot turn the country’s economic fortunes around, Economic Association of Zambia (EAZ) president, Lubinda Haabazoka has said.

And economist, Yusuf Dodia said socialism cannot play the role of improving the economy as a single agenda because development could only come by combining different philosophies.

The two were reacting to Socialist Party Presidential candidate, Fred M’membe’s claims that socialism could help change the economic situation of the country.

Dr Haabazoka has said looking at Zambia and its social economic development agenda it was quite evident that pure capitalism cannot improve the lives of the people neither could socialism alone.

“What Zambia needs is a system that delivers for its people, and that system can only be a mixture type of governance,” he said.

 “For example the United States of America has printed money ‘and they are giving it to its citizens in form of stimulus packages for them to be able to afford meals and to go about their daily lives, now in capitalism you don’t give out free money to feed them rather the strongest survive and the weak perish,” said Dr Haabazoka.

He said what used to be known as capitalism has gone extinct and what used to be known as pure socialism cannot work in the modern economic society.

 Dr Haabazoka said there was need to encourage the spirit of a free market, ownership of land and competition in the market so that there were no deficits of products.

He said the best economic approach for Zambia was a mixed economy that delivers for its people.

“If you see what is currently obtaining people get social cash transfer, security food packs, that is a socialist concept and the same concept is practsed in the USA, UK and other western countries when they give out unemployment benefits to people that don’t work and food to people that are in need, so ta say that the concept of pure capitalism or pure socialism “said Dr Haabazoka

Meanwhile, Yusuf Dodia has said that all countries are socialist countries.

“All countries are socialist countries, if you look at the American government they have healthcare,  the Obama Care mechanism, that is a socialist policy, giving money to people who are affected by Covid is a socialist policy, free vaccinations are also socialist policies and this is happening in every country of the world so clearly socialism already exists and it’s a question of how you apply it,” said Mr. Dodia.

And Mr. Dodia has advised all political leaders to be looking at different opportunities that are in the different philosophies rather than concentrating on one in order to develop the economy.

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