Over the last 200 years South Africa has been ruled by at least four types of political elite: indigenous African aristocracy, British imperialists, Afrikaner landowners and black upper class.
Each of these groups has had its own perspective on economic development.
The indigenous aristocracy was completely opposed to the introduction of private ownership of land. Private property is one of the key preconditions to economic development. The indigenous aristocracy was also opposed to many aspects of modern science, especially Western medicine, and it saw Christianity as a force that undermined its rule.
By contrast, during British imperialism's control of South Africa from 1795 to 1910, Britain was a leading industrial and military power in the world but saw no need to bring economic development to South Africa.
The British objective in South Africa was to control the Cape sea route. It was only when it was realised that South Africa had large deposits of diamonds and gold that the British took an interest in developing the South African economy, but its concept of South Africa's development did not extend beyond extracting these two minerals.
The Afrikaner nationalist landowners in most of South Africa were largely pastoralists who raised cattle, sheep and horses. There was a small group that grew wheat and grapes for wine-making.
So, until well into the 20th century, South Africa's agriculture remained underdeveloped. After this group took power from the British in 1910, it started to promote some economic development.
Their objective was to make the land they owned more profitable. Their first initiative after coming to power was to establish the Land Bank in 1910. The Afrikaner nationalist elite wanted to invest in the building of South Africa's transportation and communication infrastructure.
It also had to build educational institutions to provide white citizens with expertise in all aspects of agriculture.
As an incentive to investors, this elite group made available a dependable supply of cheap labour from South Africa's black population. All of these efforts culminated in the South African economy becoming the largest in Africa, generating almost a quarter of the continent's gross domestic product.
The black upper middle class that became South Africa's dominant political elite in 1994 was a class of intellectuals rather than of property owners. Its main objective in its pursuit of political power was not to protect or develop its property, because it did not have any.
Its main objective was to bring about equality among the races and redistribute some of the white-owned wealth to the blacks.
To achieve political equality, this elite fought for democracy, which was eventually achieved in 1994. To achieve economic equality, it adopted a policy of wealth redistribution.
There is, however, a downside to an economic strategy predominantly driven by wealth redistribution - it diverts resources from investment to consumption.
This is already beginning to show with the growing de-industrialisation of the country's economy. The scramble for wealth redistribution has also become a main driver of corruption.
The enclave economy that Hendrik Verwoerd, the architect of apartheid, was so eloquent about is thus perpetuated under the ANC government. To maintain its power, the ANC developed welfare programmes that appease the huge underclass.
There is no better-positioned organisation on the South African political landscape than the ANC.
If its voters remain poor, the ANC wins because they vote for it. In the very unlikely event that they become richer - for example, through "tenderpreneurship" - they will still vote for the ANC because they want to be on the list for the next tender.
Voters for the ANC do not vote for it for ideological or policy reasons; they vote for it primarily because of their material dependence on the ANC-controlled state.
A November 2009 Ipsos Markinor survey found that two-thirds of the people who vote for the ANC do not work. Of the one-third who do, slightly less than a quarter work full-time and about a tenth work part time.
Even more striking is the ANC voters' education levels:
â– Only 8% of ANC supporters have a higher-education qualification;
â– 23% have graduated from high school; and
â– 69% either have no education or have not completed high school.
The primary constituency of the ANC is poor blacks.
â– This is an edited extract from the introduction to Advocates for Change: How to Overcome Africa's Challenges, edited by Mbeki and published by Picador
http://www.timeslive.co.za/opinion/commentary/2011/07/05/why-anc-need-never-worry-about-losing