Nelson Mandela and the Economics of Apartheid

Peter Klein, in a radio interview, discusses Mandela's inaccurate view of Apartheid as a "capitalist" economic system.


Jim Davies's picture

A good one, Don. How, indeed, can the free market be confused with a system of government rules about racial segregation?
Even if Marx invented the term so as to discredit it, I still think "capitalism" is a useful shorthand for the practice of saving money (postponing consumption) so as to grow a business. But like many terms including "liberal" it's sadly necessary to define them when putting them to use.
Walter Williams wrote a good book on this theme a few years back: South Africa's War Against Capitalism.

Don Stacy's picture

Thanks for the introduction to Walter Williams's book on this theme.