Michael Avery and Investec’s Michael Power discuss unemployment in SA
Business Day TVPicture: REUTERSSA’s unemployment rate surged to the highest on a global list of 82 countries monitored by Bloomberg recently. It has been said that insanity is doing the same thing over and over again and expecting different results. Since 1994, macroeconomically, SA has pursued variations on the same theme of neoliberal economic reform.
They have not worked: unemployment has doubled from 20% to more than 40%. It is therefore time for some fresh thinking — indeed radical thinking — regarding the economic challenges facing SA.We should be under absolutely no illusion as to the seriousness of our unemployment problem. In the Great Depression of the 1930s, US unemployment peaked at 25%, while the UK’s peaked at 15%. This previously unprecedented failure of their labour markets prompted John Maynard Keynes to tear up and rewrite the standard economics text book.
Albeit exacerbated by the pandemic, SA’s unemployment is now more than 40%; its youth unemployment has topped 70%. Surely it is, following the logic, time to try something different?Joining Michael Avery to discuss this is Investec strategist Michael Power, who wrote a four-part essay recently taking a deep dive into the depths of the SA economy debate. headtopics.comRead more: Business Day »
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Zimbabwe court jails SA woman for dealing in drugsA South African was on Tuesday jailed in Zimbabwe for trafficking drugs worth R600,000. She gave them a taste of their own medicine argh we are enough If the roles were reversed .... ah nevermind I heard that Zim prisoners eat Pap mixed with peanuts. Good for him.
Lockdown level 2: SA cinemas adding seats and evening shows | ChannelWith the adjusted lockdown level 2, South African cinemas are adding more seats and evening shows. Still waiting for my local sterkinekor to open midweek! When will this start to happen guys?
Emigration a red-flag for SA economyThe country has seen a sharp decline in the number of taxpayers earning R750,000 a year or more in the past two financial years 🔒 ali_naka Blame ANC.... Imports. Corruption. Buying from foreign businesses that are based here. CoruscaKhaya They have been emigrating since 1994
Hadebe, Zuma get go-ahead to fight for SA flyweight titleLike any licensed professional boxer who aspires to become a national champion, Smangele Hadebe will finally fight for the SA flyweight title she has been eyeing for the past two years.
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Zimbabwe court jails SA woman for dealing in drugsA South African was on Tuesday jailed in Zimbabwe for trafficking drugs worth R600,000. What else can they do when those in power are shitting on their faces and the economy is a personal fiefdom ? My first experience happens to be a failure but I never gave up cause I knew it was going to work out for me trying continuously. Fortunately I'm smiling today by getting involved with Hendrickspat7 Manangagwa doesn't play.His criminals know that.That is why they cross Limpopo river infested with crocodiles and Kruger National Park wild animals coming to S.A. to do crime.They know in Zimbabwe Manangagwa will show them flames.Unlike our clowns of govt.