South Africa: Nationalise, Command, Let the 'White Economy' Collapse - Where Malema Leads, ANC's Mzwandile Masina Will Follow

analysis

As millions in South Africa go back to work this Monday morning, the government's long-term economic policy will be key in ensuring the country has a future. However, some ANC leaders appear to be more interested in stoking fears and resentment to suit their own narrow interests.

It is clear that important economic conversations are occurring in the ruling party and its alliance about the shape of the post-pandemic economy. But it is not clear that any of the figures who stand in the way of real economic change have changed their minds about the important questions.

Before any discussion about the ANC and South Africa's economy can begin, it should be remembered just how much has changed in the global economic debate in the last three months.

In the US the most right-wing president ever, a long-time champion of big business, has overseen a massive payout of government money to individuals (and insisted that they carry his signature). In the UK a Conservative Party prime minister has overseen a furlough scheme, where the government pays people while they are not working.

Here, long-running arguments about the Reserve Bank and interest rates have changed dramatically. Cosatu and...

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