Fields of dreams, fields of schemes : ponzi finance and multi-level marketing in South Africa

Abstract

A remarkable aspect of post-apartheid South African society is the hopes of a better life, continued optimism and, at times, unrealistic aspirations that citizens express in the context of marketing and value surveys. Whether during the high end of the economic boom period in 2005 or in the midst of the more recent global financial crisis, citizens, and in particular the youth, have articulated high expectations (South Africa – The Good News 2005, 2009; Harris 1997). As far back as 1997, however, a study by Harris reveals that whereas South Africans are generally ‘happy’, there is also dissatisfaction with the current financial situation of most households. ‘Nearly six out of every ten blacks chose points 1, 2 or 3 out of 10 to describe their financial situation, i.e. indicating complete dissatisfaction’ (ibid.: 293). Harris argues that we should explain such discontent as resulting not only from inflation and continued low wages, but also from ‘high expectations’ following South Africa’s first democratic election.