Stock Dialogues

The first book in the Stock Dialogues series

Everything on Red

An all-night economics debate

by Jacques Plaut

About the book Coming soon on Amazon

About the book

Illustration: Jacques, with a strawberry milkshake, and Luke, with an espresso and a glass of sparkling water, arguing across a table with a red tablecloth

Two old friends meet for dinner and spend the rest of the night arguing about economics.

Jacques is a Cape Town fund manager who believes in free markets and low taxes. Luke is a social democrat who runs an NGO and has worked for the World Bank. They take on questions such as:

  • Why do the shareholders of a bank vote in favour of a R100 million pay package?
  • Why do so many people work in finance, and should we try to change this?
  • Should government stay out of the economy?
  • How many countries have become rich through free-market policies?
  • How much tax do wealthy South Africans pay? Could a wealth tax work here?
  • Why do poor South Africans pay R40 billion a year in funeral policy premiums?
  • Why can’t the unemployed build the two million houses we need?

Everything on Red is accessible to anyone with an interest in economics. Most of the topics discussed have global relevance. The book comes with detailed notes and a glossary for overseas readers.

An extract

From chapter 5: An Infinite Tariff

“Here’s another angle on free trade,” Luke said. “You know Tencent, Alibaba, and Pinduoduo?”

“Of course.”

“They only exist because China banned Western technology firms. And banning something is, in a way, like putting an infinite tariff on it. Do you think this was a bad thing for China?”

“I see your point. I suppose I could argue that Chinese consumers should be allowed to choose which platform they want to use, and that Chinese firms should compete on merit with the Western firms.”

“Yes, you could argue that now, because the Chinese firms are mature now. But in most countries where the US firms were allowed to operate, they crushed local competitors. China would have been missing a multi-trillion-dollar industry if they had followed the free-trade mantra.”

“But you aren’t seriously suggesting that South Africa should ban Facebook so we can build a local version?”

If you would like a physical copy of Everything on Red, send me an email. I’ll do a bulk order if there’s enough demand.

About me

Thanks for taking an interest in my book! I grew up in Cape Town and studied music and maths at UCT. My first job was in Joburg, as a consultant at Accenture. I discovered investing during this time, and was lucky enough to get a spot on Allan Gray’s investment team. I was there for more than sixteen years.

My favourite author is C.S. Lewis. In my spare time, I’m learning Ancient Greek. I live in Cape Town with my wife and daughters.

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