History is a powerful aid to the understanding of the present, and those who are concerned with the escalating crisis in South Africa will find this an invaluable source book. This is the story of the evolution of a society in which race became the dominant characteristic, the primary determinant of status, wealth, and power. Cultural chauvinism of the first European colonists – primarily the Dutch – merged with economic and demographic developments to create a society in which whites relegated all blacks – free blacks, Africans, imported slaves – to a systematic pattern of subordination and oppression that foreshadowed the apartheid of the twentieth century. From the beginning of the nineteenth century the new empire-builders, the British, reinforced the racial order. In the next century and a half the industrialized South Africa would become firmly integrated into the world economy. Published originally in South Africa in 1979 and updated and expanded now, a decade later, this book by twelve South African, British, Canadian, Dutch, and American scholars is the most comprehensive history of the early years of that troubled nation. The authors put South Africa in the comparative context of other colonial systems. Their social, political, and economic history is rich with empirical data and rests on a solid base of archival research. The story they tell is a complex drama of a racial structure that has resisted hostile impulses from without and rebellion from within.

How the CFA Franc enabled France to continue its colonies in Africa.

This incisive, deeply informed book introduces post-apartheid South Africa to an international audience. South Africa has a history of racism and white supremacy. This crushing historical burden continues to resonate today. Under President Jacob Zuma, South Africa is treading water. Nevertheless, despite calls to undermine the 1994 political settlement characterized by human rights guarantees and the rule of law, distinguished diplomat John Campbell argues that the country’s future is bright and that its democratic institutions will weather its current lackluster governance. The book opens with an overview to orient readers to South Africa’s historical inheritance. A look back at the presidential inaugurations of Nelson Mandela and Jacob Zuma and Mandela’s funeral illustrates some of the ways South Africa has indeed changed since 1994. Reviewing current demographic trends, Campbell highlights the persistent consequences of apartheid. He goes on to consider education, health, and current political developments, including land reform, with an eye on how South Africa’s democracy is responding to associated thorny challenges. The book ends with an assessment of why prospects are currently poor for closer South African ties with the West. Campbell concludes, though, that South Africa’s democracy has been surprisingly adaptable, and that despite intractable problems, the black majority are no longer strangers in their own country.

Over the last 30 years, a fascinating variety of new place names have been given in South Africa.

Africa is working toward the goal of creating a common currency that would serve as a symbol of African unity. The advantages of a common currency include lower transaction costs, increased stability, and greater insulation of central banks from pressures to provide monetary financing. Disadvantages relate to asymmetries among countries, especially in their terms of trade and in the degree of fiscal discipline. More disciplined countries will not want to form a union with countries whose excessive spending puts upward pressure on the central bank's monetary expansion. In T he Monetary Geography of Africa, Paul Masson and Catherine Pattillo review the history of monetary arrangements on the continent and analyze the current situation and prospects for further integration. They apply lessons from both experience and theory that lead to a number of conclusions. To begin with, West Africa faces a major problem because Nigeria has both asymmetric terms of trade—it is a large oil exporter while its potential partners are oil importers—and most important, large fiscal imbalances. Secondly, a monetary union among all eastern or southern African countries seems infeasible at this stage, since a number of countries suffer from the effects of civil conflicts and drought and are far from achieving the macroeconomic stability of South Africa. Lastly, the plan by Kenya, Tanzania, and Uganda to create a common currency seems to be generally compatible with other initiatives that could contribute to greater regional solidarity. However, economic gains would likely favor Kenya, which, unlike the other two countries, has substantial exports to its neighbors, and this may constrain the political will needed to proceed. A more promising strategy for monetary integration would be to build on existing monetary unions—the CFA franc zone in western and central Africa and the Common Monetary Area in southern Africa. Masson and Pattillo argue that the goal of a creating a s

This book examines five hundred years of South African economic history.

A study of the role of cowrie-shell money in West African trade, particularly the slave trade.