By Charles H. Feinstein
Charles Feinstein surveys years of South African monetary background from the years previous ecu settlements in 1652 via to the post-Apartheid period. Following the early part of gradual development, he charts the transformation of the economic system a result of discovery of diamonds and gold within the 1870s, and the speedy upward thrust of within the wartime years. ultimately, emphasizing the methods during which the black inhabitants used to be disadvantaged of land, and brought about to provide exertions for white farms, mines and factories, Feinstein records the advent of apartheid after 1948, and its outcomes for fiscal functionality
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Additional info for An Economic History of South Africa: Conquest, Discrimination, and Development
Adapted from A. J. Christopher, The atlas of apartheid, London: Routledge, 1994, p. 15. Abundant land and scarce labour Almost immediately after the first contact was made between settlers and Xhosa in the late eighteenth century, the two groups began clashing repeatedly, as white settlers sought to wrest the land from Africans. The first clash with the Xhosa in 1779 was followed by a series of wars, one before the first British occupation and one shortly after, and on four further occasions in the first half of the nineteenth century (in 1812, 1834–35, 1846–47, and 1850).
The calculation can be even more complicated. Of the two major traditional grain crops . . 14 The poor quality of the grassland, and the great distances between sources of water, also necessitated extensive pastoral farming, with seasonal movements of livestock over a large area. 15 By contrast, a more co-operative relationship permitting a man from one area to use someone else’s land in a distant region was required by the more capricious rainfall and less varied vegetation and soil types in the vast western territory.
From the mid-1920s, conditions in agriculture deteriorated rapidly in both industrial and developing countries, with massive over-production and tumbling prices of wheat, sugar, coffee, and many other commodities. World trade was severely affected as country after country introduced protective tariffs and other measures in a desperate attempt to maintain their own output, regardless of the consequences for others. 1. International comparison of gross domestic product per capita in 1913 Source: Maddison, World economy.
An Economic History of South Africa: Conquest, Discrimination, and Development by Charles H. Feinstein