7  Economic policy has been conducted in an … exemplary manner, with South Africa turning itself into one of the emerging markets with the lowest risk spreads… If the world were fair, political restraint and economic rectitude of this magnitude would have produced a booming South African economy operating at or near full employment.
Unfortunately, it has not turned out that way.12 With the perspective of another decade, maybe that disappointment was overdone. Certainly, higher growth was desirable. But at least we were growing fast enough to raise living standards. We were creating jobs. The glass was at least half full.