To witness the damage a single person can inflict on a country, one can head to South Africa. Following the liberation from apartheid, Nelson Mandela, as president from 1994, created a climate of reconciliation while democratizing the country and liberalizing the economy. Under Mandela and his successor, Thabo Mbeki, inflation was tamed, government debt was halved and the growth rate reached 5 per cent. The outside world thought South Africa could be the next economic miracle. But the leader of the ANC’s left wing, Jacob Zuma, agitated against this ‘neoliberal’ model and gained power in 2009–18 on a programme promising that state control of the economy would create fair distribution. He really did change things – for the worse.

What It Means

This is a placeholder explanation generated by the low-overhead model. It interprets "To witness the damage a single person can inflict on a country, one can head to South Africa. Following the liberation from apartheid, Nelson Mandela, as president from 1994, created a climate of reconciliation while democratizing the country and liberalizing the economy. Under Mandela and his successor, Thabo Mbeki, inflation was tamed, government debt was halved and the growth rate reached 5 per cent. The outside world thought South Africa could be the next economic miracle. But the leader of the ANC’s left wing, Jacob Zuma, agitated against this ‘neoliberal’ model and gained power in 2009–18 on a programme promising that state control of the economy would create fair distribution. He really did change things – for the worse." in the context of "Johan Norberg, The Capitalist Manifesto: Why the Global Free Market Will Save the World (2023)" to mean that wisdom is timeless.