Governance

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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.

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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.

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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.

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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.

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Taxes and democracy

While the annual admin of filing tax returns is deadly dull, the theory of taxation itself has some interesting side avenues. Its worth exploring these, given the current policy debate around radical economic transformation, and the appealing simplicity of the arguments that we should tax the rich more to transfer wealth to the poor. International and local experience suggests that it is unlikely to be that simple.

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Should Nigeria instead of South Africa be Africa’s representative?

On 6 April 2014, Nigeria replaced South Africa as the largest economy in Africa in terms of Gross Domestic Product. However, many analysts argue that such claims do no harm to South Africa’s status within and outside of the continent. South African GDP per capita is more than twice that of Nigeria; and South Africa has superior infrastructure, a more sophisticated financial sector, and even better social indicators.

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The crucial role of pension funds in the National Development Plan

It has been argued that pension funds, being a unique vehicle through which the interests of millions of South Africans come together, are the critical component to build a social compact on which the success of the National Development Plan (NDP) relies. In the South African context, what is a social contract – who should be the parties to it and with what objectives?

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Comparing apples and oranges – the case for regulatory impact assessment

Policymaking is difficult. It involves opportunity costs, trade-offs, and unintended consequences. Ideally the process should be open and transparent, and should include a vigorous debate on all aspects of the policy being developed: its purpose, cost, mechanics, alternative designs, the likelihood of success, and the like.

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What Zimbabwe’s new constitution means for provincial leadership

From its Independence in 1980 until 2008, Zimbabwe was governed by the Lancaster House Constitution, a document that was hurriedly put together as part of the ceasefire agreement. Despite being amended 19 times the Constitution retained centralised power in the national government and the President. The President handpicked provincial governors and the Minister responsible for local government. These presidential appointees not only ran all local government structures but could also dissolve local government structures in the “interests of good governance and public administration”. The new Constitution accepts the principle of devolution, but fails to devolve any specific powers, leaving the definition of roles and responsibilities open to interpretation. Despite a constitutional shift in the right direction, in practical terms, it seems likely that there will be a continuation of the current situation in Zimbabwe, whereby political power remains centralized within the national government.

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