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CapX - Top 5 Stories: South Africa's slide into tyranny


Will the Rainbow Nation end up on the ash heap of history? 

Marian L. Tupy, CapX
The ANC promised South Africans prosperity and tranquillity - but its years in power have delivered neither. As the protests over the country's economic slide rumble on, Jacob Zuma is pandering to the hard Left by race-baiting, throwing his weight behind the uncompensated expropriation of white-owned farmland. Sadly, the Rainbow Nation is starting to bear a close resemblance to neighbouring Zimbabwe.

Why government could never invent the iPhone

Tim Worstall, CapX
Some claim that the true engine of innovation is the government. Their basic observation is that the underlying technologies that go into the iPhone, for example, were all backed by government money. Therefore, they argue, the state should take ownership of the public goods it creates. But these economists have fallen into the trap of confusing invention and innovation - which the state is terrible at. 

Meet the three firms that own corporate America

Jan Fichtner, Eelke Heemskerk & Javier Garcia-Bernardo, The Conversation
Once upon a time, individuals and institutions invested in actively managed funds which hoped to beat the market. But since the financial crisis, money has flooded out of such funds and into index funds. The result has been a concentration of corporate ownership, with three asset managers - BlackRock, Vanguard and State Street - dominating the market with trillions in assets. Should we be worried about their power? 

Will French politics change for good?

Claudia Chwalisz, CapX
Just over a year ago, En Marche! didn't exist and many French people didn't know who Emmanuel Macron was. So his presidential victory is an extraordinary, unprecedented achievement. But how much has actually changed - was he just the anti-Le Pen candidate or did he build a more meaningful coalition of voters? And if he fails, will the stage be set for a National Front triumph in 2022? 

No one wants to pay for healthcare

Tyler Cowen, Bloomberg
Critics of the Republican replacement for Obamacare pointed out that it will take health insurance away from millions of people and fail to bring medical costs down. There is nothing wrong with these criticisms, but America's healthcare quandary cannot simply be blamed on heartless Republicans. The deeper problem is that most Americans claim to value healthcare for others, yet their willingness to pay for it is limited.

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