Apartheid South Africa was often thought to run in the interests of the business elite. Yet 27 years after apartheid, those business interests remain largely entrenched. Why? Did the South African business community play a role in engineering this outcome – perhaps recognising the apartheid era was over, and jumping ship in time? Conversely, the mission of the ANC was widely perceived to be to shift wealth and power into the hands of the whole community. Yet despite ‘black empowerment’ measures, corporate ownership remains largely in white hands – and certainly in the hands of an elite few, even though no longer restricted to whites. This picture is replicated across the global south, where corporate ownership tends to be concentrated in the hands of an elite, rather than being more democratically spread. Why have alternative corporate forms not been pursued more vigorously, with ownership in the hands of customers, employees, and local communities? In the case of South Africa, where the majority of customers and employees are black, this could have delivered on the ANC’s mission to replace the apartheid era with a democratic one – in terms of wealth, incomes and power, as well as in terms of voting and civic rights. This edited volume explores all these questions and looks at ways to align corporate forms with economic and social goals. The chapters in this book were originally published as special issues of International Review of Applied Economics.

The Political Economy of Africa addresses the real possibilities for African development in the coming decades when seen in the light of the continent's economic performance over the last half-century. This involves an effort to emancipate our thinking from the grip of western economic models that have often ignored Africa's diversity in their rush to peddle simple nostrums of dubious merit.

The book addresses the seemingly intractable economic problems of the African continent, and traces their origins. It also brings out the instances of successful economic change, and the possibilities for economic revival and renewal. As well as surveying the variety of contemporary situations, the text will provide readers with a firm grasp of the historical background to the topic. It explores issues such as:

• employment and poverty
• social policy and security
• structural adjustment programs and neo-liberal globalization
• majority rule and democratization
• taxation and resource mobilization.

It contains a selection of country specific case studies from a range of international contributors, many of whom have lived and worked in Africa. The book will be of particular interest to higher level students in political economy, development studies, area studies (Africa) and economics in general.

Shadow of Liberation explores in intricate detail the twists, turns, contestations and compromises of the African National Congress’ (ANC) economic and social policy-making, particularly during the transition era of the 1990s and the early years of democracy.

Padayachee and Van Niekerk focus on the primary question of how and why the ANC, given its historical anti-inequality, redistributive stance, did such a dramatic about-face in the 1990s and moved towards an essentially market-dominated approach. Was it pushed or did it go willingly? What role, if any, did Western governments and international financial institutions play? And what of the role of the late apartheid state and South African business? Did leaders and comrades ‘sell out’ the ANC’s emancipatory policy vision?

Drawing on the best available primary archival evidence as well as extensive interviews with key protagonists across the political, non-government and business spectrum, the authors argue that the ANC’s emancipatory policy agenda was broadly to establish a social democratic welfare state to uphold rights of social citizenship. However, its economic policy framework to realise this mission was either non-existent or egregiously misguided. With the damning revelations of the Zondo Commission of Inquiry into State Capture on the massive corruption of the South African body politic, the timing of this book could not be more relevant. South Africans need to confront the economic and social policy choices that the liberation movement made and to see how these decisions may have facilitated the conditions for corruption– not only of a crude financial character but also of our emancipatory values as a liberation movement – to emerge and flourish.

Apartheid South Africa was often thought to run in the interests of the business elite. Yet 27 years after apartheid, those business interests remain largely entrenched. Why? Did the South African business community play a role in engineering this outcome - perhaps recognising the apartheid era was over, and jumping ship in time? Conversely, the mission of the ANC was widely perceived to be to shift wealth and power into the hands of the whole community. Yet despite 'black empowerment' measures, corporate ownership remains largely in white hands - and certainly in the hands of an elite few, even though no longer restricted to whites. This picture is replicated across the global south, where corporate ownership tends to be concentrated in the hands of an elite, rather than being more democratically spread. Why have alternative corporate forms not been pursued more vigorously, with ownership in the hands of customers, employees, and local communities? In the case of South Africa, where the majority of customers and employees are black, this could have delivered on the ANC's mission to replace the apartheid era with a democratic one - in terms of wealth, incomes and power, as well as in terms of voting and civic rights. This edited volume explores all these questions and looks at ways to align corporate forms with economic and social goals. The chapters in this book were originally published as special issues of International Review of Applied Economics.

The Political Economy of Africa addresses the real possibilities for African development in the coming decades when seen in the light of the continent s economic performance over the last half-century. This involves an effort to emancipate our thinking from the grip of western economic models that have often ignored Africa s diversity in their rush to peddle simple nostrums of dubious merit.

The book addresses the seemingly intractable economic problems of the African continent, and traces their origins. It also brings out the instances of successful economic change, and the possibilities for economic revival and renewal. As well as surveying the variety of contemporary situations, the text will provide readers with a firm grasp of the historical background to the topic. It explores issues such as:

• employment and poverty
• social policy and security
• structural adjustment programs and neo-liberal globalization
• majority rule and democratization
• taxation and resource mobilization.

It contains a selection of country specific case studies from a range of international contributors, many of whom have lived and worked in Africa. The book will be of particular interest to higher level students in political economy, development studies, area studies (Africa) and economics in general.