Politics, economy and business: Unpacking corruption in SA | IOL News

Corruption in South Africa isn’t simply a matter of bad morals or weak law enforcement. It’s embedded in processes of class formation – specifically, the formation of new black elites. This means corruption is primarily a matter of politics and the shape of the economy.

I argue that a much deeper set of social forces underlies and shapes the struggles within the governing party, the African National Congress , and the society more broadly. These political struggles are inseparable from struggles over the shape of the economy.The primary process to change the economy has been the drive to accelerate the emergence of new black elites. But institutional interventions, such as black economic empowerment, have been insufficient.

This means that opportunities are few, demand is high and competition is fierce. In this context, the state is where people who are locked out are most likely to gain some access. I argue that this set of practices constitutes an informal political economic system. By a system, I don’t mean a structure which is centrally coordinated or planned. What I’m referring to is a pervasive and decentralised set of interlocking networks that reinforce and compete with one another in mutually understood ways, and include the use of violence as a strategic resource.

For the purpose of building institutions and attracting investment, it will be necessary to establish as stable a coalition as possible. This means it will have to be a broad coalition. One thing is sure: the coalition will include corrupt figures. It already does. The informal system of patronage politics will remain pervasive.

Perhaps, though, it is a useful fiction for the mobilisation of civil society, journalists and judges, which at the very least may contribute to containing corruption?

Ole Sad Sack...

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

#Datamustfall: SA data more expensive than in rival and neighboring economies | IOL Business ReportMobile data in SA is more expensive than in regional economic rivals Nigeria and Egypt and compared to regional neighbours Zambia and Malawi.
Source: IOL - 🏆 46. / 51 Read more »

Zimbabwe secures nearly $1bn offshore loans to prop up economy: central bank | IOL Business ReportThe Trade and Development Bank chipped in with $152 million dollars while the Central Bank of Mozambique advanced 25 million dollars. busrep One things I've learned, if you're in deep financial trouble and you keep on borrowing, you're burying yourself.
Source: IOL - 🏆 46. / 51 Read more »

SA’s potential: If you get the economy right, business can be spectacularNewsletter| SA’s per capital income has travelled sideways for a decade, and Eskom is the single biggest risk facing the country, says Adrian Saville. However, he believes there is potential: “If you get the economy right, business can be spectacular” ANC is the biggest threat to the economy, jobs, personal wealth and just about everything else. Ramaposa the man running the failed Eskom ' war room ' is dishonest enough to believe he deserves to run the country. The only potential for an improvement of SA’s economy depends on people voting wisely on 8 May... otherwise, we’ll follow Zimbabwe and Venezuela, if not worse.
Source: City_Press - 🏆 7. / 72 Read more »

WATCH: inDriver, a bargaining ride-hailing app has launched in SA | IOL Business ReportThe ride-hailing app called inDriver that lets passengers bargain for a good price, has arrived in South Africa.
Source: IOL - 🏆 46. / 51 Read more »

LOOK: SA's most extraordinary and expensive mansions | IOL Business ReportSeeff Properties currently has five extraordinary mansions listed for between R69 million and R180 million.
Source: IOL - 🏆 46. / 51 Read more »

Cassava Fintech launches cross border money service from SA to Africa | IOL Business ReportCassava Fintech South Africa has launched an enhanced cross-border money transfer service from South Africa to the rest of Africa
Source: IOL - 🏆 46. / 51 Read more »