Business and the state are twin enemies of SA’s poor
Real radical economic transformation requires more than a binary battle between the private and public sectors — it needs an overhaul of morality
President Jacob Zuma has promised that the ANC will focus this year on achieving "radical" transformation of the economy and, by implication, of society. He (and many others) believe that SA’s levels of poverty and inequality are unacceptable. But Zuma’s understanding of "radical transformation" is neither radical nor transformative. His focus is almost entirely on who owns the economy, as if poverty and inequality are the direct result of ownership, and only that. A further layer to the ownership debate is the state versus private sector argument, with organisations such as the ANC Youth League (ANCYL) advocating a greater presence of state institutions in the economy (such as a state-owned bank) as a necessary precursor to a more equitable and just society. In this explanation of the status quo and what needs to be done to change it, the continuum runs from a white-owned economy with minimal state intervention at one end (call it point A) to a black-owned economy with significant ...
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.