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SOC2602 ASSIGNMENT 2 SEMESTER 2 2024 Neo-liberalism is a political and economic ideology which emerged in the 1970s and is considered as a cornerstone of modern capitalism. In post-apartheid South Africa, neoliberalism has had profound effects on the cou$2.84
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Globalisation and Social Change in South Africa (SOC2602)
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SOC2602 ASSIGNMENT 2 SEMESTER 2 2024 Neo-liberalism is a political and economic ideology which emerged in the 1970s and is considered as a cornerstone of modern capitalism. In post-apartheid South Africa, neoliberalism has had profound effects on the cou
Globalisation and Social Change in South Africa (SOC2602)
Institution
University Of South Africa (Unisa)
SOC2602 ASSIGNMENT 2 SEMESTER 2 2024
Neo-liberalism is a political and economic ideology which emerged in the 1970s and is considered as a cornerstone of modern capitalism. In post-apartheid South Africa, neoliberalism has had profound effects on the country, most notably creating a divide betwe...
Globalisation and Social Change in South Africa (SOC2602)
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BMZ ACADEMY
THE BMZ ACADEMY
@061 262 1185/068 053 8213
BMZ ACADEMY 061 262 1185/068 053 8213
, BMZ ACADEMY
Assessment 2 Essay Question
Neo-liberalism is a political and economic ideology which emerged in the 1970s and
is considered as a cornerstone of modern capitalism. In post-apartheid South Africa,
neoliberalism has had profound effects on the country, most notably creating a divide
between the ‘haves’ and ‘have-nots’ and high rates of poverty, unemployment and
inequality (Study Guide, 2018).
Topic: Write an essay in which you discuss the main features of neo-liberalism and
the economic and political effects of neo-liberalism in post- apartheid South Africa. In
your discussion, touch on the issues of poverty, inequality and unemployment.
Please note: This assignment must be a well-structured essay in which you clearly
introduce the topic, include sub-headings that discuss the main terms and produce
some of your own insights, arguments or position based on the study material and
recommended reading list. The essay should include, cover page, declaration page,
table of contents, body in sub-headings, conclusion, and list of references. Prepare in
advance to ensure good marks for your year mark. Plagiarism (of any kind) is not
tolerated. Therefore, add a statement at the front of your essay in which you state and
sign the statement that this is your own unaided work that is not copied from any
source and that where other authors’ ideas and words are used in the essay that you
have fully referenced these and listed them at the end in the list of sources consulted.
Length: 6 to 12 pages of content without the cover page, declaration, table of contents
and reference list. 1.5 line spacing in Times New Roman or Arial Fonts and Size: 12
[-+ 3000 words], depending on your writing style. Consult: Study Guide (2018): Study
Unit 5 and several recommended sources cited in the Study Guide. (100 Marks).
BMZ ACADEMY 061 262 1185/068 053 8213Page 2 of 16
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Table of Contents
Introduction ......................................................................................................................................... 4
Main Features of Neo-liberalism .................................................................................................... 4
Deregulation ...................................................................................................................................... 5
Economic Focus: Laissez-faire Capitalism, Competition, and Reducing State
Ownership ........................................................................................................................................ 5
Political and Economic Effects of Neo-liberalism in Post-Apartheid South Africa...................... 6
The Growth, Employment and Redistribution (GEAR) Strategy ............................................... 7
Shift Towards Free-Market Policies .............................................................................................. 7
Economic Growth and Foreign Investment .................................................................................. 8
Poverty: The Lack of State Intervention in Redistributive Policies ........................................... 9
Wealth Inequality: Growing Divide Between Socio-Economic Groups .................................... 9
High Unemployment: Effects of Deregulation and Privatization on Job Markets ................. 10
Criticisms of Neoliberalism in South Africa .................................................................................... 10
Failure to Address Apartheid-Era Socio-Economic Issues ...................................................... 10
Limitations of Free-Market Policies in a Developing Country .................................................. 11
Opposition from Social Movements and Political Groups ........................................................ 11
A reflection on neoliberalism ............................................................................................................ 11
Conclusion ........................................................................................................................................... 12
References .......................................................................................................................................... 13
IMPORTANT NOTES TO CONSIDER ........................................................................................... 15
BMZ ACADEMY 061 262 1185/068 053 8213Page 3 of 16
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