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Essays that address the question: how can people and class agency change this destructive course of history? Capitalism’s addiction to fossil fuels is heating our planet at a pace and scale never before experienced. Extreme weather patterns, rising sea levels and accelerating feedback loops are a commonplace feature of our lives. The number of environmental refugees is increasing and several island states and low-lying countries are becoming vulnerable. Corporate-induced climate change has set us on an ecocidal path of species extinction. Governments and their international platforms such as the Paris Climate Agreement deliver too little, too late. Most states, including South Africa, continue on their carbon-intensive energy paths, with devastating results. Political leaders across the world are failing to provide systemic solutions to the climate crisis. This is the context in which we must ask ourselves: how can people and class agency change this destructive course of history? Volume three in the Democratic Marxism series, The Climate Crisis investigates eco-socialist alternatives that are emerging. It presents the thinking of leading climate justice activists, campaigners and social movements advancing systemic alternatives and developing bottom-up, just transitions to sustain life. Through a combination of theoretical and empirical work, the authors collectively examine the challenges and opportunities inherent in the current moment. This volume builds on the class-struggle focus of Volume 2 by placing ecological issues at the centre of democratic Marxism. Most importantly, it explores ways to renew historical socialism with democratic, eco-socialist alternatives to meet current challenges in South Africa and the world.
Recession, inflation, interest rates, income tax, exchange rates ... We are bombarded with these terms every day - by newspapers, the radio, TV and the internet - but what do they actually mean? And how do they impact on you? In this updated edition of Everyone’s Guide to the South African Economy, all these issues - and more - are addressed. The book clearly explains and evaluates a wide range of economic occurrences - from the budget and the rand/dollar exchange rate to the balance of payments and the role of the South African Reserve Bank. The book investigates the causes and consequences of the 2008/2009 global financial and economic crisis, looks at the sub-Saharan African economy, and explores human development issues in South Africa and their implications for policy-making. If you are baffled by the specialised jargon of economists and bankers and want to know more about the economic forces that subtly dictate your day-to-day existence, Everyone’s Guide to the South African Economy will put you in the picture. This is essential reading for every South African consumer and taxpayer. Economics, after all, is too important to be left to economists.
Wide-ranging essays demonstrate how the consequences of inequality extend throughout society and the political economy Despite the transition from apartheid to democracy, South Africa is the most unequal country in the world. Its extremes of wealth and poverty undermine intensifying struggles for a better life for all. The wide-ranging essays in this sixth volume of the New South African Review demonstrate how the consequences of inequality extend throughout society and the political economy, crippling the quest for social justice, polarising the politics, skewing economic outcomes and bringing devastating environmental consequences in their wake. Contributors survey the extent and consequences of inequality across fields as diverse as education, disability, agrarian reform, nuclear geography and small towns, and tackle some of the most difficult social, political and economic issues. How has the quest for greater equality affected progressive political discourse? How has inequality reproduced itself, despite best intentions in social policy, to the detriment of the poor and the historically disadvantaged? How have shifts in mining and the financialisation of the economy reshaped the contours of inequality? How does inequality reach into the daily social life of South Africans, and shape the way in which they interact? How does the extent and shape of inequality in South Africa compare with that of other major countries of the global South which themselves are notorious for their extremes of wealth and poverty? South African extremes of inequality reflect increasing inequality globally, and The Crisis of Inequality will speak to all those general readers, policy makers, researchers and students who are demanding a more equal world.
The most up to date and frank account of the developing South African crisis. An analysis of the criminalization of the South African state. A unique perspective on likely future developments there.
The COVID-19 pandemic has, with alarming speed, dealt a heavy blow to an already-weak global economy, which is expected to slide into its deepest recession since the second world war, despite unprecedented policy support. The global recession would be deeper if countries take longer to bring the pandemic under control, if financial stress triggers defaults, or if there are protracted effects on households and firms. Economic disruptions are likely to be more severe and protracted in emerging market and developing economies with larger domestic outbreaks and weaker medical care systems; greater exposure to international spillovers through trade, tourism, and commodity and financial markets; weaker macroeconomic frameworks; and more pervasive informality and poverty. Beyond the current steep economic contraction, the pandemic is likely to leave lasting scars on the global economy by undermining consumer and investor confidence, human capital, and global value chains. Being mostly a reflection of the recent plunge in global energy demand, low oil prices are unlikely to provide much of a boost to global growth in the near term. While policymakers' immediate priorities are to address the health crisis and moderate the short-term economic losses, the likely long-term consequences of the pandemic highlight the need to forcefully undertake comprehensive reform programs to improve the fundamental drivers of economic growth, once the crisis abates. Global Economic Prospects is a World Bank Group Flagship Report that examines global economic developments and prospects, with a special focus on emerging market and developing economies, on a semiannual basis (in January and June). The January edition includes in-depth analyses of topical policy challenges faced by these economies, while the June edition contains shorter analytical pieces.
This book investigates the South African business cycle and its links to structural change in the economy. Against the backdrop of the democratic transition in 1994 and the global financial crisis, the authors study how business cycles in South Africa have changed and how cycles are related to key developments in the financial markets, international trade and business sentiment in the country. By focusing on peaks and troughs in economic activity – so-called ‘turning-point cycles’ – the book links up with the common approach of international policymakers to studying fluctuations in economic activity. The authors also introduce new approaches to measuring phases of the business cycle (to understand slow recoveries after the global crisis), provide comprehensive descriptions to complement quantitative analyses, and utilize new data sources that allow the measurement of economic activity over longer periods. As such, the book provides the first integrated overview of business cycles in an emerging market, providing academics and policymakers with a better understanding of the measurement challenges and drivers of the cycle.
Offers an insight into the circumstances under which the policies were developed, implemented and reviewed, as well as a study of the outcomes. This book addresses questions such as: How could an organisation with no previous experience of governing accomplish a peaceful transition to democracy? How did they do it and where are they going?
While sharing some characteristics with other middle-income countries, South Africa is a country with a unique economic history and distinctive economic features. It is a regional economic powerhouse that plays a significant role, not only in southern Africa and in the continent, but also as a member of BRICS. However, there has been a lack of structural transformation and weak economic growth, and South Africa faces the profound triple challenges of poverty, inequality, and unemployment. Any meaningful debate about economic policies to address these challenges needs to be informed by a deep understanding of historical developments, robust empirical evidence, and rigorous analysis of South Africa's complex economic landscape. This volume seeks to provide a wide-ranging set of original, detailed, and state-of-the-art analytical perspectives that contribute to scientific knowledge as well as to well-informed and productive discourse on the South African economy. While concentrating on the more recent economic issues facing South Africa, the handbook also provides historical and political context. It offers an in-depth examination of strategic issues in the country's key economic sectors, and brings together diverse analytical perspectives.
Africa’s Development Dynamics uses lessons learned in the continent’s five regions – Central, East, North, Southern and West Africa – to develop policy recommendations and share good practices. Drawing on the most recent statistics, this analysis of development dynamics attempts to help African leaders reach the targets of the African Union’s Agenda 2063 at all levels: continental, regional, national and local.