At around R13 to the dollar now, our exports must be quite competitive. They could get quite a lot more competitive soon. At the same time as being a temporary boon for the mines, a weaker currency should boost the trade balance because we’ll all have to cut back on imports. A weaker currency also […]
Business
Posted inBusiness, General
ILO mistakenly assumes that its old ANC pal is pragmatic
Voters elect politicians on the basis of their proclaimed ideology. However, it is not ideology that drives government effectiveness. Rather it is how ideology is adapted to resolving real-life problems. This week’s report by the International Labour Organisation (ILO) is a reminder to what extent, despite all evidence to the contrary, African National Congress (ANC) […]
Posted inBusiness, General
The microfinance delusion: who really wins?
I’m always amazed at how many students show up each year in the classrooms of the London School of Economics, where I teach, quivering with excitement about microfinance and other “bottom-of-the-pyramid” development strategies. Like eager young missionaries, they feel they’ve stumbled upon the One Idea that is sure to save the world. Would that it […]
Posted inBusiness, General
Read Yanis Varoufakis’s “The Global Minotaur”!
Until recently, Yanis Varoufakis was the Greek Minister of Finance, who resigned after the Greek populace voted overwhelmingly against the imposition of more austerity measures against them in order to service the country’s crippling debt — resigned, because he believed that would give Alexis Tsipras, the prime minister, more negotiating space with the representatives of […]
Posted inBusiness, General, News/Politics
Bravo Greece!
The outcome of the Greek referendum on whether to accept the stringent conditions for another “bailout”, laid down by its creditors, should be applauded as an unambiguous manifestation of the democratic public spirit that refuses to continue allowing the neoliberal economic regime to put money before people. It also testifies to historical amnesia on the […]
Posted inBusiness
Greece: What you think you know may hurt you
“Nescience”. What a lovely word. It means not knowing. Looking at reactions to the Greek crisis, outside Greece, before and after a somewhat puzzling referendum makes me wish more people would accept the state of nescience on some issues. For me, the Greek tragedy presents a fascinating study of how politics and economics are inseparable. […]
Posted inBusiness, Equality, News/Politics
So what is income inequality? How is it measured?
Income inequality in Africa is wide and persistent, particularly in South Africa. Will the country’s proposed national minimum wage lessen it? South Africa suffers from a large income gap between rich and poor. A 2013 survey by the Organisation for Economic Co-operation and Development suggested that “no progress towards income equality has been made since […]
Posted inBusiness, Equality
Why we’re wrong to celebrate CEOs for simulating poverty for 12 hours
By Natasha Skoryk and Caitlin Spring We’re a generation of clicktivists, incessantly raising awareness for a wide assortment of causes and social justice issues. But we rarely follow through with any tangible action or put our money where our “shares” are. So, logically, when initiatives do attempt to physically address societal problems, we should be […]
Posted inBusiness, News/Politics
Wannabe pilot Gigaba’s ill-fated flight of fantasy
While arrogance is undoubtedly an unattractive trait, in modern society it is so prevalent among politicians, top officials and corporate leaders as to be entirely unremarkable. However, when it combines with a stubborn inability to admit to error, it becomes dangerous. Until recently the most newsworthy act by Malusi Gigaba was dressing in the uniform […]
Posted inBusiness, Environment, Equality, Gender violence, Health, News/Politics, Tech
‘It’s time to talk about what’s next’
By Monica Davies If you’ve followed the fight against climate change, in the last year especially, you’ll have noticed voices starting to be raised about things outside climate change — “without racial [or gender or food or economic] justice, there is no climate justice” is the most common one, and it’s entirely true. The problems […]
Posted inBusiness, News/Politics
Eskom simply has no clue…or does it?
Eskom. Just mentioning the name results in a flurry of negative emotions coursing through the veins of just about every South African. This energy crisis is probably the single most devastating event in the past 20 years, it’s destroying the confidence of the country as a whole and places our entire economy in a chokehold. […]
Posted inBusiness, News/Politics
Ignoring the Oliphant in the room
During her Budget speech this week, Labour Minister Mildred Oliphant extolled the virtuous circle of wages and economic growth. Workers needed to be paid decent wages to drive economic growth, she told MPs. “At the risk of sounding too simplistic” this made sense because South Africa’s economy is largely consumer-driven. “When workers earn a living […]