Socio-economic Transformation in South Africa

This chapter analyses social and economic development since 1994, starting with looking at various social and economic indicators which point to a deterioration in socio-economic transformation of late. The decline in social and economic development can be attributed to inefficiencies in the government which also explains the reversals in the economy. The chapter also briefly explains the policies that South Africa has implemented since 1994 aimed at socio-economic transformation. The chapter, based on analysis of various social and economic indicators, concludes that socio-economic transformation in South Africa was advancing in a commendable way since the mid-1990s until the late 2000s. The various measures of wellbeing were confirming that human development was improving. The economy had been performing relatively well and jobs were being created, albeit insufficiently. The deterioration in the economy and in inclusive development began to show signs prior to the global economic recession of 2009/10. Besides inefficiencies in the public sector, lack of or unclear economic and social policies account for deterioration in socio-economic outcomes since the mid-2000s.