Commissioned by the Congress of South African Trade Unions (COSATU), the country's largest labour federation, this volume focuses on the steep decline in South Africa's economic performance since the mid-1970s. It argues that this stems from inherent structural problems shaped both by the apartheid system and by the post-war boom of the advanced industrial countries; and shows how the economy has been unable to adapt to the global slowdown since the oil crisis of the early 1970s and the challenges to apartheid of the 1980s.
The volume covers South Africa's international trade and debt problems, the difficulties faced by the mining, manufacturing and agricultural sectors, and the impact of crisis on employment levels, wages and living conditions of black workers.
What the analysis suggests is that political change and sanctions will not alone resolve the crisis - a fundamentally different economic structure will have to be built.
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