792.3
Between Neoliberalism, 'corruption' and Social Crisis in South Africa
Underpinning the contradictory entanglement of these two political systems is a struggle over the nature of South African capitalism – that is, between a predominantly neoliberal corporate capitalism centred on Western models, and a more localised form of accumulation centred on a murky nexus of state institutions, patronage and capture of rents through which a rapacious new black elite is attempting to muscle into a field dominated by previously white corporations and Western multinationals. This latter form is not only local, but has powerful alliances with corporations from the Brics countries, and specifically those with similar relations between national corporations and the state, namely Russia, China and India.
The paper will also refer briefly to similar practices and themes in the other Brics countries .