Why 'Anglo Licks the ANC's Boots

Globalization and State-Capital Relations in South Africa

Datos Bibliográficos

ID6020319
AutoresO C Iheduru, Okey Iheduru (Human Sciences Research Council, autor de correspondencia)
Año2008
Volumen107
Número428
Páginas333-360
Fecha de publicación2008-05-02
Peer ReviewedSí
Open AccessNo
TipoARTICLE
RevistaAfrican Affairs (JOURNAL)
Identificadores de la revistaISSN: 0001-9909 • E-ISSN: 1468-2621
EditorialOxford University Press (PUBLISHER • GB)
DOI10.1093/afraf/adn037
OpenAlexW2152457445
IdiomaEN
Citas recibidas9
Referencias citadas2

Under what conditions does capital in the age of globalization accept state regulation of markets instead of exercising its 'exit option' and shifting assets to less restrictive markets? This article explores this question by analysing local and foreign capital's compliance with the South African government's policy of seeking to transfer 25-30 percent of equity and management in white-owned companies to blacks in all sectors of the economy by 2014. This is part of government's overall policy of black economic empowerment (BEE) to foster the emergence of a black capitalowning class. The article argues that the relative vulnerability of states and markets to globalization pressures compels states and markets to reach a 'fateful compromise' that enhances state autonomy to regulate markets while also advancing the interests of capital.

Autonomy · Business · Capital (architecture) · Capital market · Economic system · Economics · Equity (law) · Financial capital · Globalization · Government (linguistics) · Human capital · Market economy · Political economy · Political science · State (computer science) · Finance · State Capitalism and Financial Governance