2015
DOI: 10.1177/0020731415584561
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Bretton Woods Institution Narratives about Inequality and Economic Vulnerability on the Eve of South African Austerity

Abstract: In South Africa, at a time when National Health Insurance should be generously funded (7 years after its approval as public policy by the ruling party), state fiscal austerity appears certain to nip the initiative in the bud. The World Bank and the International Monetary Fund issued separate reports about South Africa in late 2014, following a new finance minister's mid-term budget speech. In justifying austerity, they revealed 2 important conceptual blockages regarding inequality and international financial r… Show more

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Cited by 6 publications
(1 citation statement)
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“…None of these deals with capital bore the promised fruit, and nationalist neoliberalism has had catastrophic results. ANC leaders' many compromises left South Africa with worldleading inequality (a 0.77 income Gini Coefficient), a 2015 poverty rate estimated at 63%, and official unemployment that increased from 16% to 26% (Bond, 2015a;Budlender et al, 2015;IMF, 2013). Although a consumptionbased mini-boom occurred in the early 2000s, soaring interest rates soon made consumer-debt repayment obligations impossible for many (Bond, 2015b;African News Agency, 2015).…”
Section: Neoliberal Nationalism and Postneoliberal Possibilitiesmentioning
confidence: 99%
“…None of these deals with capital bore the promised fruit, and nationalist neoliberalism has had catastrophic results. ANC leaders' many compromises left South Africa with worldleading inequality (a 0.77 income Gini Coefficient), a 2015 poverty rate estimated at 63%, and official unemployment that increased from 16% to 26% (Bond, 2015a;Budlender et al, 2015;IMF, 2013). Although a consumptionbased mini-boom occurred in the early 2000s, soaring interest rates soon made consumer-debt repayment obligations impossible for many (Bond, 2015b;African News Agency, 2015).…”
Section: Neoliberal Nationalism and Postneoliberal Possibilitiesmentioning
confidence: 99%