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Tag: Economic Freedom of the World (EFW)
Finance minister Tito Mboweni’s new economic strategy paper is a refreshing, much needed breath of fresh air for an economy struggling for oxygen. The paper is replete with common sense proposals all aimed at achieving the economic growth South Africa desperately needs. We have been stumbling along a low-growth path of high taxes, kilometres of red-tape, wealth redistribution, and anti-individualism for far too long. If Mboweni’s paper can be taken as a true step in a new direction, a direction of more individual freedom, South Africa will see green shoots of recovery almost immediately.
An essential component of the rule of law is the existence of impartial courts where disputes are resolved fairly without favouritism to one of the parties. This is important for the economic welfare of individuals in a country because no modern economy can survive without individual property rights or contracts.
President Cyril Ramaphosa delivered his second State of the Nation Address (SONA) on 20 June. The speech was filled with rousing language as well as conciliatory offers to work together with members of the opposition. Unfortunately, no new details of his ostensible reform agenda were released, including details of how his dream for South Africa will come about.
In South Africa it is well known that women suffer the brunt of our many socio-economic issues. This is largely how females are viewed across South African culture, rather than as a matter of law. According to the Economic Freedom of the World index, South Africa scores 1.0, the highest possible score, according to the gender adjustment variable.
It is an unmitigated moral tragedy that in the year of celebrating what would have been Mandela’s 101st birthday, the incumbent government has betrayed him on an issue about which that he felt strongly. This is the resolution by parliament to make it constitutionally permissible to expropriate land without compensation (EWC). Despite the rhetoric to the contrary, the resolution does not exempt anyone, not any racial group or entity.