In 2020, Buddy Wells, a musician and MMT-enthusiast, wrote an article that, in broad terms, argues that South Africa’s pursuit of ‘neoliberal’ free-market reforms is what inevitably led to out-of-control tender corruption and state inefficiencies. This is obviously wrong.
For two decades, supporters of Black Economic Empowerment (BEE) have insisted that race-based measures are needed to overcome the effects of apartheid – but the facts show that BEE has failed.