Abstract or Introduction
This paper argues in favour of a state-led development model that prioritises social welfare. It emphasises the need for state intervention and elite accountability to create inclusive institutions for a more equitable and stable South Africa.
Since the end of apartheid, South Africa has struggled with serious inequalities and persistent socio-political instability. Neoliberal policies, particularly the introduction of GEAR, have exacerbated these problems. In this context, empirical evidence was found for the dynamics of the Polanyi problem and for the extractive institutions of Acemoglu and Robinson. A comparative analysis showed that the RDP was successful in terms of social policy but failed in terms of economic growth. The neoliberal GEAR programme increased inequality and instability and also largely failed on its own economic terms.
- Quote paper
- Jakob Bilan (Author), 2023, Social and Economic Development in post-apartheid South Africa. A Review of Inequality, Instability, and the ANC´s shift to Neoliberalism, Munich, GRIN Verlag, https://www.grin.com/document/1436308
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