“SA must rethink economics and build a new social contact”,, Business Day, 26 January 2016
By GovInn Director Professor Lorenzo Fioramonti
In his new Business Day article, Professor Lorenzo Fioramonti discusses the social ills that are facing South Africa, which have been exacerbated in the past few months by environmental and economic challenges, and the need to change the way we approach these problems together as South Africans.
As some university negotiations have demonstrated, different parties can come to a satisfactory agreement involving resizing of salaries, benefits and other contributions when it becomes clear that the future of a public good — education — is at stake. There is no reason to believe that the same cannot happen for the economy at large.
We need new rules of engagement and a new social contract to move forward. If done properly and with a clear vision, this will make everybody more confident about the future of this country, reassuring its citizens (of all races and colours), as well as those foreign investors interested in the long-term wellbeing of the economy (not the speculators who have always been so keen to make money at the expense of our society).
To read the whole article, go the Business Day website.