×

We've got news for you.

Register on BusinessLIVE at no cost to receive newsletters, read exclusive articles & more.
Register now

The expropriation of land and other assets without compensation by governments is not a new practice. It has been done before, not merely in the distant past but in the very recent past. The consequences are sobering and should lead policymakers to reconsider what may seem politically expedient in the short term, but offers catastrophe not only for the expropriated but for the expropriators as well.

This is an especially critical time to consider such moves very carefully. As the Covid-19 pandemic threatens global food supplies the last thing policymakers should undertake are moves that, when tried before, have collapsed agricultural production and led to hunger, famine and mass starvation. The most powerful contemporary example is Venezuela, where the disastrous consequences are unfolding before our eyes. But the policies of expropriation have had the same or worse consequences on the continents of Asia, Europe and Africa. ..

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now