The Rate of Exploitation in the South African Economy, 2001–2022

We estimate the Marxian rate of exploitation for the South African economy over 2001–2022, for each racial group. African labor contributes 74 percent to the total value, Colored labor 18 percent, and Indian and White labor contribute 0.7 percent and 7.3 percent, respectively. Based on these results, the rate of surplus value for the whole economy averages 5.06. For Africans, it averages 9.77; for Coloreds, 7.53; for Indians, −0.17; and for Whites, 0.22. The overall rate of exploitation for the South African economy is 3.09. For Africans, it averages 6.67, and for Coloreds, it is 5.35. Indian and White labor exhibit negative rates of exploitation, which are −0.086 and −0.014, respectively. These rates do not exhibit convergence, which implies that race remains a decisive, and enduring, factor in class exploitation in the South African economy.

JEL Classification : B51, E25