In these circumstances, the quantitative easing policy played a significant role in maintaining the stability of the financial markets and the accommodative financial environment and in preventing a contraction of economic activity. Under the accommodative financial conditions, firms have, after great effort, cast off the three excesses -- excess employees, excess capacity, and excess debt.
Many African people were driven from the land where they lived as peasants and pastoralists to the mines, emerging factories, agriculture and domestic service through the combination of political repression, land dispossession and yes, taxation. In the 1960s, the South African economy increasingly became industrialised and services oriented.