Quote of the week

The recommendation for criminal charges is particularly applicable to Mr Anoj Singh and Mr Koko, who by false pretences led Eskom, through the officials who processed the R659 million payment, to believe that the R659 million payment was in the nature of pre-payment for coal, as was the R1.68 billion pre-payment, later converted into a guarantee, when in truth and fact they knew that the prepayment and the guarantee were needed to enable the Guptas to complete and save the sale of share transaction.

State Capture Commission Report
Volume 4, Part IV
28 August 2019

Neo-liberals and racism

Other neoliberals may not have endorsed this kind of racism, but when demands for equality between the races threatened to result in the redistribution of property, their positions often converged with Röpke’s. Hayek publicly opposed the use of sanctions against apartheid (even an arms embargo went too far), and didn’t favour black majority rule unless the state could first be stripped of its powers to do economic mischief. He confided to his secretary that he liked blacks no better than Jews. In 1976, Milton Friedman spoke up in Newsweek for white minority rule in Rhodesia, and visited the University of Cape Town to explain to its predominantly white, segregated student body his opposition to universal suffrage in South Africa.

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