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Vol 42 No 5

Published 9th March 2001


South Africa

Market failure

Liberal economies aren't producing jobs or growth

Market economics is failing in South Africa. It's not producing jobs, investment or the high growth needed to finance more spending on education and health. Moreover, South Africa is on its own in the global economy. Unlike South East Asia, whose rapid economic development was fuelled by the regional sponsorship of Japan, underwritten by the United States, or South America, whose push for growth has also been underwritten by the USA, South Africa's locomotive was meant to have been Europe.

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