This book argues that South Africa experienced extensive periods of trade liberalisation in the 1970s and 1980s. It discusses the libertarian analysis of state failure, particularly the libertarian argument that market failures are less serious and less extensive than was once thought.

Introduction -- False Antithesis -- Should South Africa Further Liberalise its Foreign Trade? -- Should South African Parastatals be Privatised? -- Should the State Attempt to Reshape South Africa's Corporate and Financial Structures? -- The Role of The State in Promoting Industrialisation -- Macroeconomic Policy in Turbulent Times -- Basic Needs and Social Policy -- State, Market and Urban Development in South Africa -- Restructuring South African Agriculture -- Black Small Farmers in the Homelands