What's the plan to grow the economy equitably?
South Africa has a huge number of social, and political challenges.
Undeniably, these are intimately connected to our economic woes. Unemployment is currently standing at 27.5%.
Is the job summit and Investment conference enough to address these challenges?
Eusebius McKaiser engaged the President's economic advisor Trudi Makhaya on where the country is heading economically.
We have an economy that has developed along dysfunctional lines.— Trudi Makhaya, President's economic advisor
The South African economy got inserted in the global economy in a very violent and one-sided manner.— Trudi Makhaya, President's economic advisor
You have an economy that is built on the migrant economic system. Black people are very intertwined into the economy but they are integrated into ways that don't speak into their prosperity.— Trudi Makhaya, President's economic advisor
I think you have an economy that is built on exclusion. Because of the sectors and the mining economy, you have one that is built around resource extraction.— Trudi Makhaya, President's economic advisor
Finance minister Tito Mboweni has said that SAA should be closed and a new airline be started.
Makhaya says there is a need for deep reflection on why SAA is failing.
We have had this long debate on how SAA is in the public interest.— Trudi Makhaya, President's economic advisor
We ask ourselves how do we fix SAA, which is obviously the wrong question. We should start with is SAA a strategic asset from a developmental perspective.— Trudi Makhaya, President's economic advisor
When do we ditch BEE? It has failed as an empowerment strategy. Instead it is merely a kind of "representative economics", where a few black elite represent a multitude of poor blacks. It effectively undermines the full potential of the economy. @trudimakhaya— Gavin Mabie (@GavinMabie) November 5, 2018
Locally sourced goods— Martin Snyman (@martin_snyman) November 5, 2018
Locally source labour
Locally sourced skills
Locally invested skills
not sure it's *the* plan, but it's a smart plan to uplift the self-worth impoverished.
Tough one, as sometimes policies that reduce inequality may be harmful to growth, and growth-friendly policies can increase inequality. It requires a balance of policy choices and trade-offs.— Bukhosi Edward jr (@bukhosiedwardjr) November 5, 2018
Listen to the full discussion below...