Season of Hope: Economic Reform Under Mandela And Mbeki
Publisher: University of Kwazulu Natal Press | ISBN: 1869140419 | edition 2005 | PDF | 292 pages | 2,1 mb
Many conservatives believe in a myth that apartheid-era South Africa was well-managed and prosperous. In reality, when Nelson Mandela and the ANC came to power in 1994, they inherited a near-broke government and a very sick economy. Inflation was high, investment low, and growth negative. The white-owned corporate sector was risk-averse and oligopolistic. The distribution of income was the most unequal in the world, and, worst of all, the workforce had been hobbled by decades of education and job policies that had deskilled the majority black population. To create an enclave of privilege for whites, apartheid had wrecked the wider economy.
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