Keyword: economic development

On the Lure of India and China

Picture credit: www.instablogs.com Richard Pithouse - There's a new buoyancy in certain circles following Jacob Zuma's announcement of an impressive programme of infrastructural development. In a country that has seemed to be drifting rather aimlessly in the icy waters of the global economy, it's no surprise that a more decisive posture from the President, backed up with lots of concrete plans, is animating renewed optimism. And in a moment in which the wheel of history is steadily bringing down the influence of the old imperial powers as it...

Jospeh Stiglitz on South Africa's New Growth Path and Jobless Economic Growth

Video Editor's Note: To hear Stiglitz's views on South Africa joining the BRICS group of emerging economies as well as his thoughts on nationalization in South Africa, watch part two of this interview here. *** World renowned economist and Nobel Laureate Professor Joseph Stiglitz was in South Africa this week participating in a meeting of the Economic Advisory Panel, which he is a member of. Stiglitz also gave a public lecture at the Reserve Bank in Pretoria on Monday, 17 January...

Currency Fixing and Economic Development: Are They One and the Same Thing?

Picture credit: Fazila Farouk Saliem Fakir - While they may fight on the shop floor and often agree on little, in a rather strange twist of relations between business and the labour unions, they seem to agree on one key macro-economic policy issue, i.e., on the question of the rand’s value. Both want a lower rand in order to boost the order books for our locally manufactured goods. A joint statement by South Africa’s three top unions and manufacturers was issued on the 10 of May 2010. The statement called for...