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What are the economic policy directions SA can take from here?

1 June 2020 6:48 PM
Tags:
Stuart Theobald
Lockdown
COVID-19
Covid19 impact on economy

Covid-19 and the lockdown is a highly complex situation that will require new thinking that evolves over time.

Covid-19 and the lockdown is a highly complex and uncertain situation that none of us have before experienced.

There are various policy documents and discussions on what the SA economy should look like It will require new thinking that evolves over time.

And the remedy may lie in small changes - instead of radical policy changes.

We saw in the Sunday papers that there is a lot of thinking going on in government, in the ANC, other members of the alliance, business groups have started putting together an idea of what a recovery might look like post-lockdown - those are in the offering and one can look forward to the usual ideological schisms...

Stuart Theobald, Financial Analyst and Chairman - Intellidex

One can also be an optimist and hope that the way the country has been able to pull together to deal with the crisis will carry on through to how we think about policy and what needs to happen to the economy...

Stuart Theobald, Financial Analyst and Chairman - Intellidex

We are headed for another round of loud contestation - we saw Julius Malema for example saying this is an opportunity to ''shut down the white economy'.'

This idea of the white economy shut down comes from the notion of class suicide that suddenly became popular - which was Cabral's theory in Marxist idea that in order to escape class structures one class must effectively give up...but the idea of the economy being shut down would be a very large step backwards.

Stuart Theobald, Financial Analyst and Chairman - Intellidex

Think of the consequences.... tax revenue lost because of the lockdown...to understand that the economy really drives development of the country including including social grants...without an economy to support that process one will have widespread collapse.

Stuart Theobald, Financial Analyst and Chairman - Intellidex

Carl Popper made the argument that in public policy one should do small incremental steps... Rather than very big steps where one radically restructures the economy...maybe changing the way you do schooling... how small businesses have to register and the kind of tax system they're exposed to...

Stuart Theobald, Financial Analyst and Chairman - Intellidex

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This article first appeared on 702 : What are the economic policy directions SA can take from here?


1 June 2020 6:48 PM
Tags:
Stuart Theobald
Lockdown
COVID-19
Covid19 impact on economy

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