Rhodesia's economy was based on import-substitution and intense state intervention. On the surface the Rhodesian economy appeared strong, however, below was a clandestine engineered economic ponzi mechanism. Apartheid South Africa subsidized Rhodesia by working with inefficient Rhodesian enterprises as part of their political solidarity. Solidarity between two countries running racial discrimination programs ensured Rhodesia could bust sanctions.
The Rhodesian system guaranteed success for the 3% minority, as the majority earned slave wages and lived in rural poverty. Such an economic system inflated economic outcomes for the 3% minority, this deliberate inequitable infrastructure development system sacrificed future development. As war raged it became apparent Rhodesia's so called 'economic success' exemplified a precarious prosperity.
Zimbabwe has totally ridden itself of Rhodesian style economic policy and practice. It has not engaged import substitution, but a small minority is heavily favored by state sanctioned corruption, patronage and incompetence. Zimbabwe's system is yielding the same outcomes as Rhodesia's: infrastructure is not being developed for the majority and sanctions are in place. With business optimism at Rhodesian lows, only moral force can bring back the confidence required to reignite economic performance.
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