The debate over a basic income grant (BIG) is becoming as intense as it is misguided. One of the blunders is to blame “capitalism” for our unemployment and poverty crisis. The reality is that SA has never had a free-market economy in which the market can solve these problems. More importantly, the primary reasons for our dire economic plight are being presented to us in stark detail in acting chief justice Raymond Zondo’s reports.

Economic mismanagement went hand in hand with the institutionalised looting enabled by the Jacob Zuma presidency. The extent of the economic damage is clearly reflected in SA’s credit ratings, which had climbed in the Nelson Mandela and Thabo Mbeki presidencies to investment grade, driven by GDP growth in excess of 3% a year from 2001 to 2008. The economy was functioning pretty well before the Zuma presidency...