Link to The Economist article.
Relevant snips:
The alarmingly named Expropriation Bill, passed on May 26th by South Africa’s parliament, is being hailed by the ruling party as a victory for blacks who were dispossessed of their land by white colonists. More than two decades after the first democratic election of 1994, the vast majority of land is still owned by white South Africans. The African National Congress (ANC) has until now operated a “willing seller, willing buyer” policy of land reform. But this has proved slow and ineffective. Only about 8-10% of white-owned land has been transferred to black owners since the party came to power, a third of its target of 30%.The bolded requires an almost absurd naïveté to truly believe. Were the prices being received "fair market prices", there would be no need to force the hands of the possible sellers.Pierre de Vos, a constitutional law expert, notes that the expropriation of property will still be subject to the South African constitution, and that fair market prices will have to be paid. He thinks that “people get a bit hysterical” about the bill, and argues it is unlikely to make a major difference.
The bolded here seems pretty obvious. Expropriating land from people that have the expertise to farm it and transferring it to people as yet determined would almost certainly be a problematic disruption.Critics fear the bill could affect agricultural production at a time when South Africa is recovering from a serious drought, as well as suffering from creakingly slow economic growth and an expected downgrade of its credit-rating to junk status later this year. Some white farmers look nervously to Zimbabwe and Robert Mugabe’s disastrous land reform policies of the early 2000s.
Much more is in the article. I find this troubling and see it as essentially a misguided effort at retributive justice rather than a serious policy aimed at improving the lives of South Africans.
Am I missing something important that should make me think otherwise?