Neva Makgetla superbly identifies a pertinent, complex and sensitive issue (Transformation faces ownership hydra, August 15). Ownership structures have indeed become so complicated that clearly identifying any specific group is practically impossible. Economics studies how incentives affect outcomes and the changing linkages between role players. That corporate SA is very different today to the 1980s is obviously true. The traction the concept of "white monopoly capital" has achieved should leave us all deeply concerned given that the "solutions" to the problems being touted are based on a premise that is no longer true. The new structures and the way incentives are structured implies that implementing some of the more dramatic policies that are being proposed, such as land expropriation without compensation, will have much wider impacts than when one simply holds on to outdated ideological beliefs. This holds for equity ownership as much as land. However, the problems are real and ...
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