A HISTORY OF FINANCE AND UNEVEN GEOGRAPHICAL DEVELOPMENT IN SOUTH AFRICA

ABSTRACT

The economic and geographical history of South Africa is strewn with extraordinary instances which link financial ascendance and uneven geographical development. What is striking is a pattern of convergence involving excessive debt and financial speculation, geopolitical machinations, and crises of accumulation and hence the devaluation of capital. All of these have important geographical consequences. A synthetic, qualitative sketch of this history provides enough flavour to suggest that there are crucial lessons regarding the relatively orthodox approach to finance and development upon which South African capitalism, in its post-apartheid, neo-liberal reincarnation, has embarked.