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


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