An overview of the South African economy in the 1970s

Abstract

The decade of the 1970s marked a watershed in recent South African economic history, as long-term economic growth gave way to long-term economic decline. This development was in stark contrast to the preceding decade, which had been characterised by high growth and the disappearance of the poor White problem. The change that was taking place was not obvious at the time but a quarter of a century later it is striking, emphasising once again the need for perspective in historical studies.