Economic pluralism: what does it really mean and what is it not?
Globally, calls for more economic pluralism in higher education institutions are sounding loud and clear. However, it is not always evident what ‘economic pluralism’ actually means and many people oppose it on the basis of various misconceptions and false assumptions. This blog attempts to clarify this and, perhaps more importantly, outline what economic pluralism is not.
The four-day work week – can it become a reality?
Working hours and their effect on productivity and wellness is by no means a new topic of discussion and debate. Prior to 1900, the average American factory employee was required to work 53 hours a week. This was only reduced to the now standard 40-hour work week after much protest by labour unions, and strangely enough has never been seriously contested since. Until now, that is. This article explore the potential benefits, and some of the challenges, of a shorter work week.
The global push for pluralism in university economic curriculums
In October 2017, I was fortunate enough to travel to Edinburgh, Scotland, to attend the inaugural Festival for New Economic Thinking – a gathering of “organizations and individuals seeking to improve the way economics is taught, studied, and practiced.” Funded by the Institute for New Economic Thinking (INET) and put together by a host of organisations – including the Young Scholars Initiative, The Minskys and Rethinking Economics – this was an economics ‘nerd-fest’ unlike anything I had ever experienced before. Running over two jam-packed days, this gathering really did have an exciting festival atmosphere and offered too many panel debates, presentations, video discussions and key note speakers than one could ever process in such a short space of time.
Technological innovation and the developmental state: China’s transition to an entrepreneurial state?
Technological innovation. The ‘source of energy within the economic system which would of itself disrupt any equilibrium that might be obtained’ (Friedberg, 2013). Not a new concept by any means, innovation-based growth has traditionally been the objective of the developed, advanced countries of the world. However, in an evolving global landscape marked by the emergence of expansive ‘bottom-of-the-pyramid’ consumer markets, complex global value chains and the increasing importance of knowledge-based productive sectors – technological innovation has become a vital source of growth for developing countries.
The developmental state: what does it mean for South Africa?
Within the realm of governance and growth studies, there are various theories regarding the role of the state in promoting economic growth and supporting development. One particular theory, which is increasingly popular in South Africa, is the so-called ‘developmental state.’ Originating from a description of the South East Asian growth experience, this term generally refers to a country that is committed to using state institutions to drive economic development or bolster the social welfare of their citizens.