I love newspaper posters. A few weeks ago I saw one that read: "The end of Ramaphoria! - GDP falls 2.2%". This week, a Business Day street-pole poster read: "Battered rand is back at Zuma-era levels." Poor former president Jacob Zuma has clearly cemented his status as the yardstick for underperformance. These two posters got me rethinking the fundamental problem with our economy, especially when it comes to levels of investment by the government and business. South Africa clearly still faces challenges that question the sustainability of the economic trajectory it is on. In summary, these relate to poverty and unemployment characterised by inequality, where the black majority are poor and the white minority and a fraction of black people are rich. Principally, it is the country's ability to generate long-term, sustainable and inclusive economic growth that is paralysed by these challenges. Public sector policy has to date failed to stimulate sustainable growth in the country - altho...
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