How do you fix black economic empowerment and youth unemployment? The quick answer is, 'not the way we are trying to do it now'. The longer answer is massively complicated, long-term, diverse, difficult and not likely to happen without setbacks. But I do have one suggestion that could take us a long way down the road.
First published in the Daily Maverick 168 weekly newspaper.
We all know the famous Albert Einstein quote, "insanity is doing the same thing over and over again and expecting different results". As it happens, he never said it - but why quibble about the origins, since the quote speaks for itself.
South Africa is oddly in the same position, pretending that the same solutions we have been pedalling for the past 25 years will have a different result. Occasionally, we see a crack in the edifice of the ANC's economic policy; normally after the situation has become so dire, that pragmatism is the only remaining option.
Over these past months, the third wave of Covid-19 and the economic crisis in general have resulted in some tiny changes on the edges of ANC policy. The Eskom monopoly on electricity has been marginally diluted by allowing...