Business

Bravo Greece!

The outcome of the Greek referendum on whether to accept the stringent conditions for another “bailout”, laid down by its creditors, should be applauded as an unambiguous manifestation of the democratic public spirit that refuses to continue allowing the neoliberal economic regime to put money before people. It also testifies to historical amnesia on the…

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Greece: What you think you know may hurt you

“Nescience”. What a lovely word. It means not knowing. Looking at reactions to the Greek crisis, outside Greece, before and after a somewhat puzzling referendum makes me wish more people would accept the state of nescience on some issues. For me, the Greek tragedy presents a fascinating study of how politics and economics are inseparable….

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So what is income inequality? How is it measured?

Income inequality in Africa is wide and persistent, particularly in South Africa. Will the country’s proposed national minimum wage lessen it? South Africa suffers from a large income gap between rich and poor. A 2013 survey by the Organisation for Economic Co-operation and Development suggested that “no progress towards income equality has been made since…

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Why we’re wrong to celebrate CEOs for simulating poverty for 12 hours

By Natasha Skoryk and Caitlin Spring We’re a generation of clicktivists, incessantly raising awareness for a wide assortment of causes and social justice issues. But we rarely follow through with any tangible action or put our money where our “shares” are. So, logically, when initiatives do attempt to physically address societal problems, we should be…

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Wannabe pilot Gigaba’s ill-fated flight of fantasy

While arrogance is undoubtedly an unattractive trait, in modern society it is so prevalent among politicians, top officials and corporate leaders as to be entirely unremarkable. However, when it combines with a stubborn inability to admit to error, it becomes dangerous. Until recently the most newsworthy act by Malusi Gigaba was dressing in the uniform…

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‘It’s time to talk about what’s next’

By Monica Davies If you’ve followed the fight against climate change, in the last year especially, you’ll have noticed voices starting to be raised about things outside climate change — “without racial [or gender or food or economic] justice, there is no climate justice” is the most common one, and it’s entirely true. The problems…

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Eskom simply has no clue…or does it?

Eskom. Just mentioning the name results in a flurry of negative emotions coursing through the veins of just about every South African. This energy crisis is probably the single most devastating event in the past 20 years, it’s destroying the confidence of the country as a whole and places our entire economy in a chokehold….

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Ignoring the Oliphant in the room

During her Budget speech this week, Labour Minister Mildred Oliphant extolled the virtuous circle of wages and economic growth. Workers needed to be paid decent wages to drive economic growth, she told MPs. “At the risk of sounding too simplistic” this made sense because South Africa’s economy is largely consumer-driven. “When workers earn a living…

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What is the ‘logic of sufficiency’ in economics?

Imagine a world in which people, wisely, remind themselves that there is a tomorrow – if not for themselves, indefinitely, then for their children – and that the manner in which they enter into a relationship with their physical environment WILL unavoidably make a difference to the kind of tomorrow their children, and their children’s…

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Hey, relax, South Africa isn’t THAT bad!

Look, I’ll be the first to admit that South Africa has many problems. Our economy buckled due to the protracted platinum strike last year, violence and rape remains disturbingly high, poverty and inequality is on the rise and our politics are, well, underwhelming to say the least. One of the consequences is that we have…

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