Contrary to predictions of early political breakdown, the South African government seems to have successfully maintained itself and to have maintained internal stability in South Africa. The aim of this paper wilt be to relate this political stability to economic causes and to indicate the nature of these causes by qualitative models supported, where possible, with quantitative data. Models of this nature are, of course, never perfect. The models to be outlined here are no exception. Nevertheless they may be useful, in that they do seem to offer an adequate explanation to the observed situation, and where inadequacies remain, they could be modified to allow for them. Modification may be possible, because a deliberate effort has been made to keep the models simple; in the belief that although simple models may require more assumptions than those more complex, they are more useful, for they cause fewer difficulties in application and interpretation. The study is, in addition, as the title indicates, an application of economic argument to a political problem. The writer, although not without economic training, is not an economist but a political scientist. Treatment of the subject matter may, as a consequence, differ in method and terminology from that which would be employed by an economist. It is with the belief, however, that problems related to economic development and cultural change are, by their very nature, interdisciplinary, and that the economists' models may provide a fruitful basis for a common discourse among the social sciences that the present effort is undertaken. [ABSTRACT FROM AUTHOR]