The South African Economy: 1910-90.

In the first of these books, Stuart Jones once again provides a collection of articles dealing with specific aspects of South Africa's financial institutions since the more formal start of the apartheid regime. Some of the chapters overlap chronologically with his earlier collection, Banking and Business in South Africa, others continue where earlier articles left off, while yet others raise new questions.

Given the great impact that apartheid and reactions to it have had on the South African economy, it is surprisingly difficult to find much in the various contributions reflecting its importance, or indeed much reference to it and its consequences at all. The chapter on fiscal policy, for example, does not go into the effects of heavy defence spending and the destabilisation policies pursued in neighbouring countries. The financial implications of the migrant labour system are not considered of sufficient importance to be discussed except in passing. Similarly, the financial ramifications of the relationship between …