The theme of the book is how efficient economic organisation with clearly defined property rights in the framework of a market economy has made possible the development of the South African economy. The book is divided into three periods: 1910-33, 1933-61 and 1961-90. Each of them begins with a brief survey of the growth of population and GDP which is then followed by a more detailed sectoral analysis. The book represents an important general survey of the South African economy in the twentieth century and as such will be required reading for all interested in the making of the modern South African economy.

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

The South African Economy 1910-90 surveys the growth of the South African economy since 1910, when the four provinces came together to form the Union of South Africa. The theme of the book is that efficient economic organization made possible the remarkable growth of the South African economy, which over the years has had to contend with natural disasters, a backward but politically influential agricultural sector, a fixed gold price, the impact of two world wars, and finally the constraints on growth imposed by the apartheid policies since 1948. Gold fuelled the growth of the economy and enabled the government to subsidize agriculture in a way that was not usually possible for developing countries. It also led the South African government to pioneer many of the policies more commonly associated with the agricultural policies of the European Economic Community. Gold, however, has been a mixed blessing, and since 1973 the dramatic rise in its price has not been accompanied by a boom in the growth rate. In fact, it led to a marked deceleration in the rate of growth and triggered a burst of inflation that is still ravaging the South African economy. Since leaving the Commonwealth in 1961 South Africa has experienced an industrial revolution that has made her the powerhouse of Africa, but accompanying this industrial transformation there occurred a population explosion that increased the need for foreign investment just at the time when anti-apartheid campaigns were making this impossible. As a result, the 1980s saw a decline in white incomes and an increase in black unemployment.

Democratization in South Africa has been accompanied by continuing and even deepening economic inequalities. Rather than proposing a blueprint for a more equable economic system, this book presents the results and implications of wide-ranging research on the history and current dynamics of the South African economy over the past fifty years. The authors analyze a range of strategic economic trajectories, linking these to the shifting balance of economic and political power, and they set the parameters within which the economic and political debates are conducted. }The acclaim with which democratization in South Africa has been greeted has been tempered by the recognition that there are at the same time continuing and even deepening economic inequalities. This is more disturbing given the extreme economic disparity experienced by much of the black population, the retreat from commitments to public ownership enshrined in the Freedom Charter, the unambiguous safeguarding of private capital, and the obstacles placed in the way of progressive economic policies by business interests and the entrenched apartheid-era bureaucracy. Rather than proposing a blueprint for a more equable economic system, this book presents the results and implications of detailed and wide-ranging research on both the history and current dynamics of the South African economy, from the Second World War to the present. The authors analyze a range of strategic economic trajectories, linking these to the shifting balance of economic and political power in South Africa. But their approach is not prescriptive; instead they set the parameters within which the economic and political debates are conducted. They also discuss the theoretical arguments involved in the propositions that they and others have put forward. The books value is enhanced by the comprehensiveness of the data presented, and each chapter is self-contained so that particular topics can be studied separately.

The African National Congress (ANC) is the oldest and most durable of African nationalist movements, not only in South Africa but also across the continent. Since 1994, it has governed the country as leader of the Tripartite Alliance with the Congress of South African Trade Unions (Cosatu) and South African Communist Party (SACP). The early decades of the twentieth century saw the establishment, survival, and growth of ANC and black labour organisations. This book focuses on the formative period of engagement of these political and socioeconomic forces before permanent alliances emerged. It analyses the ANC’s attitudes and relationships with the nascent formations of the black working class, with particular attention to the most conscious and active workers. The subject matter in this book also discusses migrant, rural, domestic, and women workers – not always then clearly defined as part of a formal ‘working class’. Print editions not for sale in Sub-Saharan Africa. This book is part of Routledge’s co-published series 30 Years of Democracy in South Africa, in collaboration with UNISA Press, which reflects on the past years of a democratic South Africa and assesses the future opportunities and challenges.

The Routledge Handbook of Global Economic History documents and interprets the development of economic history as a global discipline from the later nineteenth century to the present day. Exploring the normative and relativistic nature of different schools and traditions of thought, this handbook not only examines current paradigmatic western approaches, but also those conceived in less open societies and in varied economic, political and cultural contexts. In doing so, this book clears the way for greater critical understanding and a more genuinely global approach to economic history. This handbook brings together leading international contributors in order to systematically address cultural and intellectual traditions around the globe. Many of these are exposed for consideration for the first time in English. The chapters explore dominant ideas and historiographical trends, and open them up to critical transnational perspectives. This volume is essential reading for both academics and students in economic and social history. As this field of study is very much a bridge between the social sciences and humanities, the issues examined in the book will also have relevance for those seeking to understand the evolution of other academic disciplines under the pressures of varied economic, political and cultural circumstances, on both national and global scales.

South Africa has undergone a financial revolution since 1950 when the financial structure was colonial. By 1990 the situation had changed and new institutions emerged. This book looks at some of these institutions including the first Afrikaner banks, merchant banks and discount houses.