In this essay I will attempt to illustrate how the capital-intensive nature of the economy, the high levels of market concentration and the high level of unemployment in South Africa are both related yet at the same time have many other independent variables accounting for them. I will compare this with the Marxian concept of economics, and will start by examining exactly what Marx's beliefs were and, therefore, how they lead to his predictions for …
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showed last 75 words of 2074 total
…Wages, and Technology. Quarterly Journal of Economics, vol 112, no 1. McClellan, D. (1975). Marx. Great Britain: William Collins Sons and Co Ltd. Smit, M.R. (1999). Concentration, Labour Quality and Wages in the South African Manufacturing Sector. The South African Journal of Economic Review, vol 67, no 2. Wocke, A and Klein, S. (2002). The implications of South Africa's skills migration policy for country competitiveness. Development Southern Africa, vol 19, no 4. World Bank. (2000). African Development Indicators 2000. Washington D.C: Oxford University Press.