In a command system, there is a dominant, centralized authority –  usually the government – that controls a significant portion of the economic structure. Also known as a planned system, the command economic system is common in communist societies since production decisions are the preserve of the government.
3.3. Market economic system

Market economic systems are based on the concept of free markets. In other words, there is very little government interference. The government exercises little control over resources, and it does not interfere with important segments of the economy. Instead, regulation comes from the people and the relationship between supply and demand.
4.4. Mixed system

Mixed systems combine the characteristics of the market and command economic systems. For this reason, mixed systems are also known as dual systems. Sometimes the term is used to describe a market system under strict regulatory control.
REFERENCING
- https://corporatefinanceinstitute.com/resources/knowledge/economics/economic-system/

▲ John Maynard Keynes (1883 – 1946)John Maynard Keynes was a British economist, best known for spearheading the revolution in economic thinking, which overturned the then existent ideas of neoclassical economics. Keynes is also regarded by many as the founder of modern theoretical macroeconomics. His ideas formed the basis of an independent school of thought, Keynesian economics. His contributions include some of the most useful economic concepts, including liquidity preference, fiscal multiplier, deficit spending, and aggregate demand-aggregate supply model.
2. Adam Smith was a Scottish philosopher and political economist who is widely considered the father of modern economics and the world’s first free-market capitalist, for he explained how―in a free-market economy―rational self-interest led to economic well-being. Undoubtedly one of the biggest names in this field, he influenced the likes of Karl Marx, John M. Keynes, and Thomas Malthus. Smith’s contribution to economics came in the form of his famous works: The Theory of Moral Sentiments (1759) and The Wealth of Nations (1776); the latter was published as a five-book series.
3.David Ricardo was a British political economist, who together with James Mill, founded classical economics. It was Adam Smith’s The Wealth of Nations that inspired Ricardo to take interest in this subject. He was a believer of monetarism, which was evident from his argument that the propensity of the Bank of England to issue excess banknotes was responsible for the prevailing inflation in the country. His biggest contribution to the field of economics was his theory of comparative advantage.

Yet another renowned figure in this field, Milton Friedman was an American economist and statistician. An ardent advocate of laissez-faire capitalism, Friedman was awarded the Nobel Memorial Prize in Economics in 1976. He was best known for his demonstration of the complexity of stabilization policy, which was introduced to stabilize the economy. Some of his prominent contributions to this field include the concept of monetarism, price theory, permanent income hypothesis, floating exchange rates, applied macroeconomics, and the Friedman test.
4. Karl Marx (1818 – 1883) Though he is more often remembered as a German philosopher and revolutionary sociologist, Karl Marx did a lot for economics as well. He was of the belief that humans were not motivated by grand ideas, but by material concerns related to survival. Marx looked at capitalism negatively and in his book Das Kapital argued that the capitalist’s profits come from exploiting labor. He predicted the end of capitalism and emergence of communism, where people would own the means of production, and thus, there would be no need to exploit labor for profit.
5.David Hume was a renowned philosopher and economist hailing from Scotland. Even though he was more of a philosopher, he is regarded as one of the most eminent economists of the world, as his discussions on politics led to the development of several ideas that are prevalent in the field of economics even today. He was of the opinion that foreign trade is a stimulus for economic growth, and therefore, is very important for the development of the nation.
6.▲ Irving Fisher (1867 – 1947)
One of the famous American economists, Irving Fisher is best known for economic concepts such as the Fisher equation and Fisher separation theorem. It was his work on quantity theory of money that became the basis for the development of Milton Friedman’s concept of ‘monetarism’. Besides the Fisher equation and Fisher separation theorem, he is also known for contributions such as the equation of exchange, price index, Philips curve, and monetary illusion.
7.Thomas Robert Malthus (1766 – 1834)Not many people would need an introduction to the English demographer and political economist, Thomas Robert Malthus; best known for his popularization of the economic theory of rent. He was one of those economists who played a crucial role in the development of classical economics as the first modern school of economic thought. Malthus was one of the most influential and controversial figures in the field of economics and politics. His major contribution to this field came in the form of the Malthusian growth model.
References
- https://historyplex.com/famous-economists

 Real economic growth in the GDP fell from 1.1% in 1991 to about 0.5% in 1998. It stood at 2.6% in 2001. Still, analysts estimate that the economy must grow at between 5 and 10% if South Africa is going to overcome unemployment rates estimated at 37%. Although the white minority enjoys living standards equal to those in the rest of the industrialized world, most of the remaining 85% of the population has Third World living standards. The high prevalence of HIV/AIDS remains the major obstacle to achieving economic growth, and, with 5.2 million people living with the disease in 2000 and over 300,000 deaths caused by it, social upheaval only adds to the crisis. High unemployment, rigid labor laws, low skill levels, crime, and corruption hamper economic progress. Emigration has also emerged as one of South Africa's challenges, as those South Africans who are highly skilled find better markets for their skills abroad, especially in Australia, New Zealand, the UK, Canada, and the US. 

 Foreign direct investment in 2003 remained below levels targeted by the government; plans were made to build a knowledge and technology-based economy to attract investment. Structural economic changes and policies geared to lower inflation helped temper the effects on the South African economy of the global economic downturn that began in 2001. A rise in interest rates and a strong rand contributed to a fall in inflation in 2003, but so did an accounting error by the government, which caused many borrowers to pay more in interest on loans than they would have had the correct economic statistics been reported by the government. Business activity and consumer confidence subsequently fell. Nonetheless, economic growth was projected for 3.5% in 2004. 

References https://www.nationsencyclopedia.com/Africa/South-Africa-ECONOMY.html#:~:text=South%20Africa%20-%20Economy.%20It%20has%20a%20mixed,b

https://globaledge.msu.edu/countries/south-africa

According to Wikipedia, there is an estimated 700 number of SOEs in South Africa. https://en.wikipedia.org/wiki/State-owned_enterprises_of_South_Africa (Wikipedia, 2020)

There is also a recently updated publication of 131 State-Owned Enterprises listed on the National Government Registry published 15 August 2020.  https://www.gov.za/about-government/contact-directory/state-owned-enterprises-%28soes%29/pdf (South African Government, 2020) 

 

References:
South African Government, 2020. South African Government. [Online]
 Available at: https://www.gov.za/about-government/contact-directory/soe-s
[Accessed 8 September 2020].

1.  Traditional Economic System

2.  Command Economic System

3.  Market Economic System

4.  Mixed Economic System 

These are the three influencers of global economics and economic systems they contributed to:

1.       Karl Marx – for his contribution to the Command Economic System

2.       Adam Smith – for his hand in shaping the Market Economic System

3.       John Maynard Keynes - for pioneering the Mixed Economic System 

References:

The Famous People, 2020. The Famous People – Economists. [Online]
Available at: https://www.thefamouspeople.com/economists.php
[Accessed on 8 September 2020]. 

A mixed economic system is one that is blended with market and planned economic systems, as well as both private and public enterprises. South Africa is a mixed economy. There are institutions that support service delivery and development as per national legislation – these are public and private enterprises which are entities that allow for private competitive participation in the country’s market and public ownership in production and manufacturing, and this leads to profits that add to South Africa’s GDP; for both social and economic freedom.

In his article titled, Planning and the Mixed-economy in South Africa, Rasigan Maharajh sums up how geo-physical, socio-political, political, SA’s policies on revolution and reform, as well as contemporary challenges have all shaped how the country fits in a mixed economic system.  https://ieri.org.za/sites/default/files/outputs/PMeSA_20120306-Rasigan_Maharajh.pdf (Maharaj, 2012)

References:
Maharaj, R., 2012. Institute for Economic Research on Innovation. [Online] 
 Available at: https://ieri.org.za/sites/default/files/outputs/PMeSA_20120306-Rasigan_Maharajh.pdf
 [Accessed 8 September 2020].

In fact, SA was rated an upper-middle-income economy by the World Bank with three other countries in Africa following. The country must have a mixed economy economy due to its key economic sectors which are mining, agriculture, fisheries, vehicle manufacturing and assembly, food processing, clothing and textiles to name just a few. Then we also have telecommunication, energy, financial and businesses both corporate and Small businesses, business services, real estate, tourism, transportation health both private and public, and also wholesale and retail trade as well as export and import.

This can lead to a lenghthly discussion, and we would still be talking days later. So I hope that you are now able to understand why the SA economy is a mixed economy.

References

Globaledge.msu.edu. 2020. South Africa: Introduction. [online] Available at: <https://globaledge.msu.edu/countries/south-africa> [Accessed 9 September 2020].

Karl Marx- Command system
Adam Smith- Market system
John Maynard Keynes- Mixed economy system

References

Globaledge.msu.edu. 2020. South Africa: Introduction. [online] Available at: <https://globaledge.msu.edu/countries/south-africa> [Accessed 9 September 2020].