Focus on economic growth rather than social justice in SA - strategist

An opinion piece by independent strategist Shawn Hagedorn suggests South Africa's focus on social justice is preventing the country from attaining economic growth.

He says the country is heading towards a decade of zero-growth in per-capita incomes, and needs 'pragmatic economic debates'.

There's too much emphasis on inequality and not enough on growth. And without growth, inequality will remain.

Shawn Hagedorn, independent strategist

He cites countries such as China and Japan as being societies that are thousands of years old and very "monolithic".

Within their cultures is a tremendous emphasis on putting the interest of the community and the state ahead of the individual, and very much tied to that, is an emphasis on institutional capacity and those are two countries that for hundreds of years have had institutional capacity which have then had tremendous benefit for them.

Shawn Hagedorn, independent strategist

South Africa now is about seven years into what will be a decade of no growth in per capita income and when you have prolonged stagnation, a lot of people don't realise intervention from government even in almost a perfect situation can't be made to work, and South Africa's particular circumstances make it truly impossible.

Shawn Hagedorn, independent strategist

Click on the link below to listen to the full interview.....


This article first appeared on 702 : Focus on economic growth rather than social justice in SA - strategist


Recommended

by NEWSROOM AI
Read More
Wits Nehawu members down tools over salaries

Wits Nehawu members down tools over salaries

Nehawu Wits acting secretary Tumisho Madihlaba says negotiations with management deadlocked resulting in a strike.

Former Eskom interim CEO Sean Maritz under fire for signing off R400 mil payment

Former Eskom interim CEO Sean Maritz under fire for signing off R400 mil payment

‘Documents show that the fee contract was entered into by Anoj Singh & signed off by the acting CEO Sean Maritz' - Chris Yelland

Hennie van Vuuren's book reveals how profits kept the apartheid machine running

Hennie van Vuuren's book reveals how profits kept the apartheid machine running

Apartheid, Guns and Money: A Tale of Profit lifts the lid on some of the darkest secrets of apartheid’s economic crimes

Gigaba says focus must be on driving down inequality, not semantics

Gigaba says focus must be on driving down inequality, not semantics

Finance Minister Malusi Gigaba answered questions from MPs about his stance on the buzz term 'radical economic transformation'.

May the Fourth be with you, a celebration of Star Wars Day

May the Fourth be with you, a celebration of Star Wars Day

May 4 marks "May the Fourth be with you," Day celebrated by fans George Lucas' fans of his Star Wars global movie franchise.

Minister Gigaba expected to tackle radical economic transformation at WEF Africa

Minister Gigaba expected to tackle radical economic transformation at WEF Africa

World Economic Forum on Africa starts in Durban today.

Popular articles
Nhlanhla Nene asks trade unions for ideas on how to fund wage increase demands

Nhlanhla Nene asks trade unions for ideas on how to fund wage increase demands

Nene asked unions representing Eskom workers to provide ideas to fund wage increases after negotiations with Eskom deadlocked.

[WATCH] Man finds it hard to open his Zam-Buk & pleads for an easier opening tin

[WATCH] Man finds it hard to open his Zam-Buk & pleads for an easier opening tin

Tourists wake up at the crack of dawn to bag the best sunbed and one man even suffers a broken toe in the melee.

How Steinhoff shares doubled in just five days

How Steinhoff shares doubled in just five days

Founder of Herenya Capital Advisors, Petri Redelinghuys, explains how the embattled Steinhoff managed to double its share price in 5 days

Parents no longer have to travel with children's birth certificates

Parents no longer have to travel with children's birth certificates

The new Home Affairs upgrades to the system include printing parents details at the back of the child's passport.

Woolworths explains reasons for rice mix recall

Woolworths explains reasons for rice mix recall

The retailer announced it is recalling its rice mix product for fear of contamination with the Listeria bacteria.

Home Affairs set to undergo an upgrade in move to paperless system

Home Affairs set to undergo an upgrade in move to paperless system

A new live capture system will cover birth, marriage and death registrations.

Criminals targeting homes with aluminium windows, warns neighborhood watch

Criminals targeting homes with aluminium windows, warns neighborhood watch

The Panorama, Welgelegen and Plattekloof Neighbourhood Watch has identified a new house break-in trend.