Ian Shapiro, Sterling Professor of Political Science and Global Affairs at Yale, examines what role the business sector played in ending apartheid in South Africa. This is lecture twelve in his DeVane Lecture series course Power and Politics in Today's World, taught at Yale in fall 2019. Shapiro revisits modernization theory and tests its claims about business attitudes toward authoritarianism versus democracy against South Africa's actual transition. He surveys the country's political economy before, during, and after the shift away from apartheid, asking whether business interests pushed for reform or merely adapted to it once it became inevitable. The lecture sits inside a broader course tracing how the world moved from the optimism after communism's collapse to today's politics of fear and resentment, using South Africa as a detailed case study of democratic transition under economic pressure.