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South Africa’s economy is in a mess, to say the very least, and all this is solely and exclusively the fault of policymakers. Everything has gone horribly wrong! Yet it is not all beyond redemption.
Michael O’Dowd wrote in his book, The Industrial Revolution Myth and Reality, about the widely held myth that the industrial revolution in eighteenth century England was evil, which he contended was a persistent but mistaken myth.
We oppose various recent government initiatives to prolong COVID-19 lockdown measures. All such measures must be scrapped and a return to the pre-March 2020 legal position must be expedited. South Africans have waited patiently for too long to see constitutional government and their civil liberties restored.
James Meade, British recipient of the Nobel Prize in economics, reported in 1961 that Mauritius faced a bleak future. The country was reliant on a single crop (sugar), subject to weather and price shocks, threatened by over-population, had no potential alternative job opportunities, was multi-ethnic, had large income inequalities, and had experienced political conflict.
Congress of South African Trade Unions (COSATU) General Secretary Bheki Ntshalintshali’s thought-provoking, in-depth piece advocating the ostensible strengths of the government's localisation plans refers ('Ideologues do the jobless a disservice by turning localisation into a swearword', January 9).
Free economies do not come about by chance. They are the result of the conscious creation of a business environment that is conducive to a high level of entrepreneurial activity and that has a minimum of bureaucratic red tape.
South Africa ranks 84th out of 165 countries and territories included in the Economic Freedom of the World: 2021 Annual Report, that we have released in conjunction with Canada’s Fraser Institute. In 2000, South Africa ranked 58th on the list of countries analysed.
South Africa saw its most destructive riots in years this past July, ostensibly in response to former President Jacob Zuma's imprisonment and due to socio-economic factors. The Constitutional Court's sentencing of Zuma was widely hailed as a victory for the Rule of Law, but the commentariat in many cases remains blissfully unaware of its diagnostic blindspots.
While we acknowledge the positive structural reforms currently underway by government – most notably the lifting of the self-generation threshold to 100MW – command control plans of enforced localisation stand to undo any potential positive upsides of other reforms.