Economic History of South Africa - Business Support For Apartheid

Business Support For Apartheid

With the support of foreign capital, the mines and the mining finance houses, largely dominated by English-speaking South Africans, prospered under the system of apartheid and shunned outright opposition. In return for the continued monopsony of labour purchase for the mines that kept wages low and outlawed trade unions, the English-speaking mining companies tolerated job reservation that prevented blacks from developing skills.

Over time the mining companies introduced changes to lower their costs but the alliance with the government continued.

White trade unionism was allowed but there were no black trade unions until the 1970s when black workers began flexing their economic muscles and, through the trade unions, promoting political change.

Read more about this topic:  Economic History Of South Africa

Famous quotes containing the words business and/or support:

    Knighterrantry is a most chuckleheaded trade, and it is tedious hard work, too, but I begin to see that there is money in it, after all, if you have luck. Not that I would ever engage in it, as a business, for I wouldn’t. No sound and legitimate business can be established on a basis of speculation. A successful whirl in the knighterrantry line—now what is it when you blow away the nonsense and come down to the cold facts? It’s just a corner in pork, that’s all.
    Mark Twain [Samuel Langhorne Clemens] (1835–1910)

    Can you support the expense of a husband, hussy, in gaming, drinking and whoring? Have you money enough to carry on the daily quarrels of man and wife about who shall squander most?
    John Gay (1685–1732)