Rather than a rigid racial ideology, it is argued that South African apartheid was a pragmatic response of a white … oligarchy to changing economic and political constraints. Consequently, the degree to which apartheid principles were applied … and enforced by the South African state varied over time. A public choice model is developed to explain apartheid as …

inequality and narrow middle-class such as Apartheid South Africa. The presence of a credible threat of capital flight is shown … development of the finance sector in South Africa in the later years of Apartheid made the exit option a major part of the …

. Economic development is typically characterised by agglomeration, but Apartheid policies tried to separate people and disperse …