CAPITAL ACCUMULATION AND ECONOMIC …

11 CAPITAL ACCUMULATION AND ECONOMIC growth IN SOUTH AFRICA By D. G. Franzsen and J. J. D. Willers I. CAPITAL ACCUMULATION DURING THE PRE-UNION PERIOD TEE ECONOMIC growth of a country can only be intrepreted in a historical context. In the case of South Africa, an investi- gation of the past growth of the Nation's CAPITAL stock calls for explicit recognition of the role played by two major struc- tural changes, viz. (1) the advent, during the seventies and eighties of the last century, of the diamond and gold mining in- dustries, and (2) the final achievement, in 1910, of the goal of the political and ECONOMIC unification of the country. Two principal sub-periods may accordingly be distinguished in a survey of the CAPITAL ACCUMULATION process during the recent past, viz. (1) the development from 1870 until the formation of the Union of Sonth Africa in 1910, and (2) the post-Union period.

11 CAPITAL ACCUMULATION AND ECONOMIC GROWTH IN SOUTH AFRICA By D. G. Franzsen and J. J. D. Willers I. CAPITAL ACCUMULATION DURING THE PRE-UNION PERIOD TEE economic growth of a country can only be intrepreted

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