On his blog today, CFR senior fellow John Campbell discusses Patrice Motsepe, South Africa’s wealthiest black citizen, who recently pledged half his $2.65 billion fortune to charity. Motsepe, Campbell explains, fits squarely into the African National Congress’ concept of a “patriotic bourgeoisie.” As he writes:
The concept is that just as political power was transferred from the white minority to the black majority, so, too, should economic power. A black capitalist class would contribute to the poor black majority through racial solidarity. Capitalist profit seeking would be harnessed to improving the opportunities and living standards of the poor. Race would trump class.
You can read the full post here.