Abstract
At the time of writing, it is still unclear how South Africa will emerge from two decades of turbulent crisis. The euphoria of 1990, when the South African political and business establishment as well as most Western governments thought and affirmed that South Africa was definitely entering a new era, has now waned. Politically, a sustainable agreement between the contending forces appears far away. Economically, the country is facing an even worse situation than it was in the late 1980s. Double-digit inflation coupled with declining investments and growing state budgetary deficits have combined into a spiral of negative growth and mass impoverishment.
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Notes
Stephen Gelb using some of the theoretical developments of the ‘regulation school’ explains the concept of crisis as ‘the breakdown of the growth model, slowing down accumulation and further exacerbating the disintegration of the process.’ This situation differs from the usual business cycles of depression and recovery ‘because the conditions for rapid accumulation are no longer ‘automatically’ restored. Upswings which do occur are likely to be hesitant and short-lived. A return to a sustained high rate of accumulation — the resolution of the crisis — requires the successful structuring of a new mode of regulation.’ Stephen Gelb (ed.), 1991, South Africa’s Economic Crisis, (David Phillip, Cape Town).
Dan O’Meara, 1992, ‘The New National Party and the Politics of Negotiations’, in D. Innes, M. Kentridge, H. Perold, Power and Profit, Politics and Business in South Africa, (Oxford University Press, Cape Town).
M. Morris and D. Hindson, ‘The Disintegration of Apartheid’ in G. Moss and I. Obery (eds), 1992, South African Review no. 6 (Johannesburg, Ravan Press).
Dan O’Meara, 1991, ‘Regional Economic Integration in Post-Apartheid Southern Africa — dream or reality?’, in A. van Nieuwkerk and G. van Staden (eds), Southern Africa at the Crossroads, South African Institute of International Affairs, Johannesburg, October, p. 132.
Robert Davies, 1992, ‘Emerging South African Perspectives on Regional Cooperaton and Integration after Apartheid’, Southern African Perspectives (UWC, Centre for Southern African Studies: Cape Town).
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© 1993 Palgrave Macmillan, a division of Macmillan Publishers Limited
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Beaudet, P. (1993). South and Southern Africa into the 1990s. In: Thede, N., Beaudet, P. (eds) A Post-Apartheid Southern Africa?. International Political Economy Series. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-23020-4_7
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DOI: https://doi.org/10.1007/978-1-349-23020-4_7
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