“Fixating on growth could subvert prospects of long-term prosperity”, by Lorenzo Fioramonti, 28.06.2017
The recession has come as a cold shower to policy makers and their economic advisers, but only because they decided to ignore the facts. Whether they chose so out of expediency or sheer ignorance, I don’t know. About five years ago, I started writing about SA’s myopic approach to economic growth, predicting GDP would contract annually, leading to a recession in the middle of 2017.
Read the entire article here.