December 8, 2013

Why Left-Leaning Mandela Embraced Capitalism

Jake Bright, Quartz

The Associated Press

There are a lot of directions Mandela could have taken the country in those early post-apartheid days. At each juncture, he seemed to make the right call. When it came to the country’s economic policy, he chose free markets. Today, South Africa is Africa’s most powerful economy—though Nigeria may overtake it any day—and in 2010 was added to the elite BRIC grouping of fastest-growing economies (Brazil India China Russia, now known as BRICS to include South Africa). It has Sub-Saharan Africa’s largest stock market capitalization, most heavily traded currency, highest sovereign credit rating, and highest purchased government bonds. South Africa also maintains Africa’s most modern business infrastructure and attracts the greatest foreign direct...

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TAGGED: South Africa, Nelson Mandela

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