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A South African Variety of Capitalism?

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  • Nicoli Nattrass

Abstract

This paper explores the South African political economy through the lens of a variety of capitalism (VoC) approach. It argues that attempts were made in the early post-apartheid period to forge a more social-democratic and co-ordinated variety of capitalism, but that this floundered as the government adopted neoliberal macroeconomic policies against the wishes of organised labour, and as black economic empowerment policies further undermined an already racially-fraught business sector. Organised labour was able to push for, and maintain, protective labour market policies - but this came at the cost of growing policy inconsistency notably with regard to trade liberalisation which, in the presence of growing labour-market protection, has exacerbated South Africa's unemployment crisis. Unemployment remains intractable (and with it inequality) and corruption/patrimonialism appears to be a growing problem.

Suggested Citation

  • Nicoli Nattrass, 2014. "A South African Variety of Capitalism?," New Political Economy, Taylor & Francis Journals, vol. 19(1), pages 56-78, January.
    • Handle: RePEc:taf:cnpexx:v:19:y:2014:i:1:p:56-78
    DOI: 10.1080/13563467.2013.768610
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    1. Ernesto Talvi & Pablo Serra & Nancy Birdsall & Howard Pack & Andrés Solimano & Barbara Stallings & Michael Gavin & Richard H. Sabot & Nora Lustig & Humberto Petrei & Sebastián Edwards & Ricardo Hausma, 1997. "Pathways to Growth: Comparing East Asia and Latin America," IDB Publications (Books), Inter-American Development Bank, number 65998 edited by Nancy Birdsall & Frederick Jaspersen, February.
    2. Talvi, Ernesto & Serra, Pablo & Birdsall, Nancy & Pack, Howard & Solimano, Andrés & Stallings, Barbara & Gavin, Michael & Sabot, Richard H. & Lustig, Nora & Petrei, Humberto & Edwards, Sebastián & Hau, 1997. "Pathways to Growth: Comparing East Asia and Latin America," IDB Publications (Books), Inter-American Development Bank, number 377.
    3. repec:idb:brikps:65998 is not listed on IDEAS
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    Cited by:

    1. Nicoli Nattrass & Jeremy Seekings, 2018. "Employment and labour productivity in high unemployment countries," Development Policy Review, Overseas Development Institute, vol. 36(S2), pages 769-785, September.
    2. Schmid, Jon & Kwon, Seokbeom, 2020. "Collaboration in innovation: An empirical test of Varieties of Capitalism," Technological Forecasting and Social Change, Elsevier, vol. 157(C).
    3. Isaac Khambule & Cecile Gerwel-Proches, 2019. "Exploring the role of social dialogue in local economic development: A case of a South African Local Economic Development Agency," Progress in Development Studies, , vol. 19(1), pages 36-54, January.

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