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The Political Economy That Explains Why The South African Economy Misfires

Adam Hayes

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Published in The Economy On Your Doorstep: The Political Economy That Explains Why The South African Economy Misfires And What We Can Do About It

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South Africa is a country with a rich history and a complex political economy. The country has experienced periods of great economic growth, but also periods of economic decline. In recent years, the South African economy has been struggling, with high levels of unemployment, poverty, and inequality.

The Economy On Your Doorstep: The political economy that explains why the South African economy ‘misfires’ and what we can do about it

by Adrian Wooldridge

4.5 out of 5

Language	:	English
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There are a number of factors that have contributed to the decline of the South African economy. These include the legacy of apartheid, the global economic crisis, and the government's economic policies.

The Legacy of Apartheid

Apartheid was a system of racial segregation that was implemented in South Africa from 1948 to 1994. Apartheid had a devastating impact on the South African economy. The system created a dual economy, with a white-dominated formal sector and a black-dominated informal sector. The white-dominated formal sector was highly developed, while the black-dominated informal sector was characterized by low wages, poor working conditions, and limited access to education and healthcare.

Apartheid also led to a high level of inequality in South Africa. The white minority controlled the vast majority of the country's wealth, while the black majority lived in poverty. This inequality has persisted after the end of apartheid, and it remains a major challenge for the South African economy.

The Global Economic Crisis

The global economic crisis that began in 2008 had a significant impact on the South African economy. The crisis led to a decline in demand for South African exports, which in turn led to a decline in economic growth. The crisis also made it more difficult for the South African government to borrow money, which limited its ability to invest in infrastructure and other development projects.

The Government's Economic Policies

The South African government has implemented a number of economic policies that have had a negative impact on the economy. These policies include:

* A high level of government spending, which has led to a large budget deficit. * A complex and inefficient tax system, which has discouraged investment and job creation. * A restrictive labor market, which has made it difficult for businesses to hire and fire workers.

These policies have made it difficult for the South African economy to grow and create jobs.

The South African economy is facing a number of challenges. These challenges include the legacy of apartheid, the global economic crisis, and the government's economic policies. The government needs to address these challenges in Free Download to promote economic growth and create jobs.

The Economy On Your Doorstep: The political economy that explains why the South African economy ‘misfires’ and what we can do about it

by Adrian Wooldridge

4.5 out of 5