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Exactly, I'll also add failed social policies to this list. The economy of Johannesburg goes well beyond gold. The country has amazing natural resources and som
by lgleason 3y ago
Exactly, I'll also add failed social policies to this list. The economy of Johannesburg goes well beyond gold. The country has amazing natural resources and some very smart people, but sadly the smart ones are in the minority.
My brother in law does land evaluations nation-wide. One of many examples he gave me was that there is a program there to expropriate farms from white land owners and give them to blacks (I'm not referring to the expropriation without compensation FYI). The idea behind this was to give the blacks a way to earn money by being able to have land. He personally observed farms that had been expropriated and it's effect. Before the expropriation they were productive thriving operations, afterwords many ended up ceasing to produce anything and the properties went into dis-repair.
Farms, beyond supplying the country with food provide a valuable export.
- JoeAltmaier 3y agoSimilar story in Venezuela. It's a political idea to 'give the land back to the people'. But the people they give it to haven't the training, equipment nor financial reserves to actually work the land. Big farms have become big, to compete on margins. Splitting them is a recipe for disaster. No surprise when it goes sour, quickly and decisively.