The wilfully blind government has entrenched stagnation by favouring redistribution legislation
We must follow our president’s example. Declaring a national lockdown required intellectual fortitude. Just last month President Cyril Ramaphosa was punting the fantasy of a sovereign wealth fund. We the people must also dispatch our delusions.
As SA’s politics shifted dramatically in the early 1990s, the global economy pivoted no less profoundly. The trade-focused integration of rich and poor economies then pummelled global poverty. SA’s policymakers rejected such growth-based poverty thumping to favour layers of redistribution legislation, which eventually entrenched stagnation.
SA’s sophistication at commercial and capital markets economics is unaccompanied by the economic development expertise that fuels rising household prosperity through global integration. We largely missed out on the world-changing acceleration in global integration and we are woefully wrong-footed for the shifts that are taking shape. SA can only achieve sustained high growth by surging value-added exports.
“Wilful blindness” explains why people prefer to embrace their values rather than expand their understanding. Denouncing corruption is a natural reaction. Grasping economic development drivers is a formidable undertaking.
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