An Economic History of South Africa: Conquest, Discrimination, and Development (Ellen McArthur Lectures)

Features

• Cover Type: Hard Cover with 326 pages
• Published by: Cambridge University Press July 25, 2005
• Written in: English
• ISBN 10 Number: 0521850916
• ISBN 13 Number: 978-0521850919
• Book Dimensions: 9 x 6.1 x 1 inches
• Weighs: 1.4 pounds

Product Review
"An Economic History of South Africa highlights the costs that have been imposed on the majority populations and the economy itself by the illogic of racial exploitation and the denial of educational and occupational opportunity. This book provides a reliable introduction to the economic history of South Africa."
-James L. A. Webb, Jr., Colby College

"As one would expect from such an eminent economist, Feinstein provides the reader with a solid introduction to South African economic historyIt should be purchased by all libraries with an African collection and by South African scholars as a core book in their collection."
-Roger B. Beck, Eastern Illinois University

"This comprehensive survey of South Africa's economic history is highly recommended and would make a fine college text to complement standard political histories. Scholars will long be indebted to Feinstein for bringing together so much primary and secondary material in such a readable way."
-Peter Limb, Michigan State University, African Studies Review

Product Description
Charles Feinstein surveys five hundred years of South African economic history from the years preceding European settlements in 1652 through to the post-Apartheid era. Following the early phase of slow growth, he charts the transformation of the economy as a result of the discovery of diamonds and gold in the 1870s, and the rapid rise of industry in the wartime years. Finally, emphasizing the ways by which the black population was deprived of land, and induced to supply labor for white farms, mines and factories, Feinstein documents the introduction of apartheid after 1948, and its consequences for economic performance,

Reader Reviews
This is an excellent survey of South African economic history, with an emphasis on developments after the discovery of diamonds and gold in the late 19th century. The narrative ends with the democratic transition in 1994. As the book explains, gold mining was the driving force behind South Africa's skewed development. The need for cheap black labor led to racist legislation aimed at driving blacks off the land and making them dependent on employment in mines and on farms. Taxes levied on the mines paid for excellent infrastructure and for subsidies to white farmers; meanwhile, high tariffs nurtured manufacturing industries that fed the mines' demand for industrial inputs. These policies enabled whites to carve out a nice life for themselves on the backs of blacks and gold. The system foundered when gold exports declined in the 1980s and South Africa's inefficient manufacturing sector couldn't export to take up the slack. The central problem was the reliance on cheap, low-skilled black labor: the domestic market for manufactured goods remained small, while high unit labor costs hobbled manufactured exports. Growth slowed and eventually turned negative, investment dried up, unemployment skyrocketed, and sanctions undermined the balance of payments. By the 1990s, the material basis for apartheid had collapsed. Feinstein's book tells this fascinating story in clear, if dry, prose. Anyone interested in South African history or general economic history will enjoy it. However, readers unfamiliar with the basic concepts of national income accounting may find some sections hard slogging.