Good Capitalism, Bad Capitalism: The Role of Business in South Africa

Good Capitalism, Bad Capitalism: The Role of Business in South Africa

South Africa has entered a new era, with the country’s recently elected president, Cyril Ramaphosa, promising a ‘new dawn’. But will President Ramaphosa and his administration, together with business and labour, be able to turn the economy around and at last satisfy the aspirations of millions of people who, for decades, have been promised better lives? And what role should business – and organised business – be playing in all of this? Although business is the main driver of the economy, it has for years been a passenger in economic policy-making. These and other questions relating to South Africa’s complex character and uncertain future prospects are thoroughly explored in Good Capitalism, Bad Capitalism: The Role of Business in South Africa.

 

Detailed Information

  • Title: Good Capitalism, Bad Capitalism: The Role of Business in South Africa
  • Author/s: Raymond Parsons & Ali Parry
  • Publisher: Jacana Media
  • Country of Origin: South Africa
  • Publication Year: 2018
  • ISBN: 9781431426188
  • Bib. Info: Paperback

South Africa has entered a new era, with the country’s recently elected president, Cyril Ramaphosa, promising a ‘new dawn’. But will President Ramaphosa and his administration, together with business and labour, be able to turn the economy around and at last satisfy the aspirations of millions of people who, for decades, have been promised better lives? And what role should business – and organised business – be playing in all of this? Although business is the main driver of the economy, it has for years been a passenger in economic policy-making. These and other questions relating to South Africa’s complex character and uncertain future prospects are thoroughly explored in Good Capitalism, Bad Capitalism: The Role of Business in South Africa.

Written by prominent economist, Raymond Parsons, together with Ali Parry, the book offers a balanced and absorbing analysis of what various institutions and individuals have (and have not) done to eradicate the legacy of apartheid and bring South Africa to where it is today. Freed from the shackles of the Zuma regime, South Africa now has a decisive opportunity to take stock of what has gone wrong in the country since the advent of democracy and take appropriate corrective action. But will it? What are the chances of success?

History can so easily repeat itself if politicians and business leaders choose to ignore the lessons of the past. Fresh thinking and a large dose of pragmatism are imperative if South Africa is to turn the corner and build a bigger, stronger and better economy. At this critical juncture, organised business institutions in South Africa also need to reprise their role as the voice and champion of the constituencies they are mandated to serve.

“Raymond Parsons has written a masterly overview of the role of organised business during apartheid, the key years of transition to democracy and post-1994. He offers the unique insights of an economist, an economic historian and a key figure in organised business throughout the period. But the true value of this book lies not so much in looking back as in looking forwards, especially with the Ramaphosa era now upon us. Professor Parsons persuasively argues that business must play a greater role in helping to shape a future that better addresses South Africa’s socio-economic problems.” – Professor Gavin Keeton, Department of Economics at Rhodes University and President of the Economic Society of South Africa.

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