The crisis of development in most of Southern Africa has come to be regarded as an inevitable outcome of the failure of post‐independence development policy in those countries. That policy failure eventually led to the need for policy reform, which emerged most dominantly in the form of structural adjustment programmes. This article, which is a comparative analytical review, examines the origins and nature of the economic crisis in Southern Africa and the policy framework giving rise to it, drawing on country examples to illuminate and illustrate the analytical perspective.