By Charles H. Feinstein
Charles Feinstein surveys years of South African financial historical past from the years previous ecu settlements in 1652 via to the post-Apartheid period. Following the early part of sluggish progress, he charts the transformation of the economic climate due to the discovery of diamonds and gold within the 1870s, and the fast upward push of within the wartime years. ultimately, emphasizing the methods through which the black inhabitants was once disadvantaged of land, and triggered to provide hard work for white farms, mines and factories, Feinstein records the creation of apartheid after 1948, and its effects for financial functionality
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Additional resources for An Economic History of South Africa: Conquest, Discrimination, and Development
Van Wyk, Personal disposable income in South Africa by population group, income group and district, 2000, University of South Africa, Bureau of Market Research, Research Report, No. 279, 2000, p. 27 (adjusted to 1995 prices), for 1960, 1975, and 1994. Personal income is defined as current pre-tax income in cash and in kind earned or received from all sources, including transfers from government and businesses. 2. International comparison of gross domestic product per capita in 1994 Note: Left-hand part of each bar shows level of per capita GDP in 1913.
But in the context of an economic history these 14 15 B. Sansom, ‘Traditional economic systems’, in W. D. ), The Bantu-speaking peoples of Southern Africa, 2nd edn, London: Routledge, 1974, p. 144. , p. 40. 18 An Economic History of South Africa differences, as well as those between the Nguni and Sotho–Tswana modes of exploitation of their environments, were much less significant than the common features and common destiny of all the African people of southern Africa. They all shared basically the same technology and knowledge of agriculture, and all attached exceptional importance to pastoral farming.
All this made it an appropriate strategy to spread risk by cultivating several fields scattered over a wide area, embracing different soils and varied opportunities for rain. As Sansom explains, Precipitation and soil types are related in complex ways to affect productivity. This was appreciated and duly comprehended in the individual’s calculus of risk . . In other words, there is a choice between investing more or less labour in soils that will yield bumper crops under optimum conditions or sowing drought soils that always produce, but do not produce in quantity.