That there is something wrong with the way we currently run Black Economic Empowerment isn't a novel statement. We all know that somehow it's immoral and very hard to justify.
But the current ruckus over the Gold Fields deal really reveals just how failed an experiment it is. And it also shows up what is wrong with the entire system.
It's hard to argue with the rationale behind BEE. Except in the comments section of News24, it cannot be in dispute that there is a need to take wealth from the beneficiaries of Apartheid (even if they weren't alive then) and give it to those who lost out then (including those who weren't alive then, too... economics is really unto the third generation, remember).
And when it comes to somehow trying to do that without completely disrupting the economy, there actually aren't that many ways to do it. Can you imagine trying to impose higher taxes on whites, for example? Even once-off, it would create more outrage than your average French rugby referee.
So putting some kind of a tax with a racial element on companies, and putting it, generally speaking, on new business, whether it be...