Posted inBusinessTech

Who needs private capital?

In this country, the notion of private companies risking their capital on infrastructure projects is a no-no. While it complains about “market failure” and high prices, the Financial Mail’s Duncan McLeod reports that the government has just decided to spend $2 billion (!) on its own undersea cable project.

Posted inBusiness

Classic price-control crisis

Browsing the website of the state-owned electricity producer, Eskom, where “loadshedding” schedules are published, is a depressing pastime for a sunny Friday afternoon. It’s a tale of woe that underscores the truth of the classic economic argument that if you control prices, you’ll get only shortages for your efforts.