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President Jacob Zuma and South Africa¡¯s Financial Crisis: A Machivellian Debacle

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  • Anis Mahomed Karodia
  • Paresh Soni

Abstract

The paper is a continuation of a research article published in the same journal in the month of March, 2016. A new dimension has now entered the equation in terms of the fiscal and economic quagmire and, crisis that, South Africa is confronted with. The paper argues President Jacob Zuma¡¯s (South African President) Machiavellian tendencies in respect of moving from one blunder to another by removing the capable and performing Minister of Finance, Nene and replacing him with a novice in the form of David Desmond van Rooyen, a Parliamentary backbencher, and without any tangible experience. Former Finance Minister Pravin Gordhan was recalled as Finance Minister having served in this position from May 2009 to May 2014. This was a blunder of gigantic proportions. South Africa therefore had three Ministers of Finance within one week. The paper will attempt to unpack these and many other issues in this article which adds to the woes of South Africa¡¯s economic and fiscal crisis. Technically, the paper will argue that the Machiavellian President scorns the economy and, is obsessed with power at any cost.

Suggested Citation

  • Anis Mahomed Karodia & Paresh Soni, 2016. "President Jacob Zuma and South Africa¡¯s Financial Crisis: A Machivellian Debacle," International Business Research, Canadian Center of Science and Education, vol. 9(7), pages 24-54, July.
    • Handle: RePEc:ibn:ibrjnl:v:9:y:2016:i:7:p:24-54
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    Cited by:

    1. Baneng Naape & Ndzalama C. Mathebula, 2022. "How do petrol prices respond to variations in crude oil and the exchange rate? Evidence from South Africa," Journal of New Economy, Ural State University of Economics, vol. 23(3), pages 23-42, October.

    More about this item

    Keywords

    machiavellian; damages; economy; fiscal; chaos; markets; ratings downgrade; junk status economy; politics;
    All these keywords.

    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z0 - Other Special Topics - - General

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