Marikana revealed the major weaknesses in South Africa's post-1994 class compromise and underscored the fragility of its institutions. State-Corporate Collusion and Capital ExtractionSouth Africa's post-apartheid capitalist system heavily relies on cheap black labour, historically supported by migrant labour systems. South Africa's industrial relations were meant to balance capital growth with social fairness, aiming for shared prosperity in a growing economy. The structure of South Africa's labour relations, established under the Labour Relations Act, aimed to control class struggle through regulated collective bargaining. Fourteen years later, Marikana stands as a stark reminder that without significant changes in economic ownership and class power, the promise of liberation remains incomplete.