A glimpse of what SA might look like if policy goons prevail

While there is contestation of what exactly "radical economic transformation" means, it is safe to assume that it could include a state-driven economic policy that involves the expropriation of land without compensation — and one day even businesses — for the purpose of redistribution to the poor. Excited to see what radical economic transformation might look like in real life, I went on a one-week visit to Cuba, which went through its version of radical economic transformation following the 1959 revolution. Fearing retribution after the revolution, close to 600,000 middle and upper-class Cubans fled the country (primarily to Florida), leaving their property and businesses in the care of relatives who stayed. Many of the exiles believed that the revolution was a passing phase and life would soon return to normal. The newly established ministry for the recovery of misappropriated assets nationalised private local-and foreign-owned businesses, confiscating upwards of $25bn in private ...

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