‘White monopoly capital’: an excuse to avoid SA’s real problems
Capital has no colour or political affiliation; ‘white monopoly capital’ is both overstated and illusive
The call for radical economic transformation has grown louder following President Jacob Zuma’s 2017 state of the nation Address. Accompanying these calls is a line of argument that says "white monopoly capital" is to blame for the fact that the majority of black South Africans remain marginalised from the mainstream economy, 22 years after apartheid ended. The term "white monopoly capital" is not new, but increasingly it’s used to deflect attention away from the real issues facing the country’s economy. These include government incompetence, corruption, poor infrastructure, lack of skills and bad policies. While the white monopoly capital noise rages on, it’s become clear that the ANC has no political will to address critical areas harming the economy, such as rigid labour laws and market inefficiencies caused by state-owned enterprises. There are also indications that the call for radical economic transformation is a political ploy to loot and enrich the black elites, who are abusi...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.