Post-1994 economy a relic of apartheid - Friedman
Professor Steven Friedman from the University of
Johannesburg says the South African government has to change the way it
operates the economy of the country to secure sustainable growth.
Friedman believes the question government should be asking is: “What is wrong with our economy?”
Friedman was speaking at the panel discussion on 25 Year Review Report in Pretoria on Wednesday morning.
He believes the government is more fixated on making old economics ways to work better rather than being innovative.
“That the post-1994 economy is the pre-1994 economy with some new faces. Unless we change that we are going to have this conversation for the 20 years,” he said.
Friedman added that the idea of social compact is misguided because it assumes all citizen are on the same page.
“And that is my problem with government summits, government summits get people into a room for three and try to hash some sort of declaration. The problem with that is that what is dividing the people in a room is not three days it is 300 years and you cannot sort that out in three days.”
The Department of Planning, Monitoring and Evaluation (DPME) compiled the report from 2018 and published in November of this year.
Listen to Friedman below: