Business

Marikana: Moment of reckoning with whole extractive system

Marikana widows want BASF to admit its complicity as part of the platinum supply chain. The extractive sector in post-apartheid South Africa remains a hotbed of labour and environmental exploitation, with people still working underground in unsafe, unhealthy conditions.  Mining communities continue to be excluded from having a fair share of the wealth accumulated from…

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Tackle inequality vigorously to reduce racism and other social pathologies

A unique characteristic of South Africa as a society is the racialised structural inequality and unemployment inherited from the apartheid period. It was an intended and planned outcome of a warped strategy and a set of policy positions designed and rigorously implemented to achieve it. In a very weird way the outcome was hugely successful…

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How Pokemon Go has changed the behaviour of millennials overnight

If you are yet to hear about Pokemon Go by now, you must have shut yourself off from all media and people for the past week. Since its phased roll-out launch a week ago, Pokemon Go has taken over the news, the internet and the lives of Millennials the world over. The free to play mobile augmented…

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Brexit, capital as meta-body, and mytochondria

So it did happen in the end. Brexit. Against expectations, judging by the polls immediately before the referendum on 23 June. But looking back, it is not surprising that it happened. Most of those voting to leave are older voters, whose emotional ties to a Britain before the “free movement” immigration from European Union countries…

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Ubuntu and eco-feminism as an antidote to neoliberalism

How many people have noticed that neoliberal capitalism undermines the values of ubuntu (“I am because others are”) as a traditional African practice? And how many know that ubuntu and ecofeminism share some fundamental principles and values? I know of at least one such person, and her work in this regard is extremely significant. In…

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Black economic empowerment is not black economic empowerment

By Michael Nassen Smith The BEE drum has been beaten many times before on both the right and the left on South Africa’s political spectrum. A recent piece on PoliticsWeb penned by John Kane-Berman gave what has become a standard liberal right critique of BEE. I think Berman is right to bemoan the influence of…

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It’s a simple choice: Are we going to make South Africa great?

Last week I wrote about racism in our public discourse and I was accused of merely describing the problem and negating the role of politics in fixing our economy. Well, here is a stab at a solution: – Every South African corporation with a national footprint should employ one intern aged 20-29 for every 10…

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Why American market capitalism is broken

Yes, you’ve read correctly. You may not know who Rana Foroohar is, so let me inform you that she is a highly respected business and economic journalist working for TIME magazine, who has just published a book called Makers and Takers, published in May (Crown publishers), in which she makes this (to some startling) announcement….

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We are rebuilding an economic apartheid instead of dismantling it

In the mid-1980s South Africa’s prime overdraft rate went to 25%, inflation rocketed to 20.9% and the apartheid government abolished the financial rand exchange rate system in 1983 as international banks refused to renew credit lines for South Africa. The world was punishing South Africa for being a pariah, a scum state, violating the fundamental…

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Concerns raised over way repossessed homes are sold at public auctions

By Mbalenhle Budaza Lawyers for Human Rights, together with many legal non-governmental organisations, have noted with growing concern the manner in which repossessed houses are sold at public auctions. The fact that a reserve price is not mandatory for sales in execution as well as the lack of judicial oversight over these processes has led…

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