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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:Gambling on Investment: Competing Economic Strategies in South Africa
Author:Nattrass, NicoliISNI
Periodical:Transformation: Critical Perspectives on Southern Africa
Geographic term:South Africa
economic development
Development and Technology
Economics and Trade
Abstract:Early 1996 President Mandela called on the public and private sectors in South Africa to develop and implement a 'national vision' to put an end to the country's slow economic growth, rising unemployment and persistent poverty. This set the scene for a year which turned out to be rich in contrasting economic visions and growth strategies. The present article categorizes these visions into two broad stables: the SAF (South African Foundation)/GEAR (growth, employment and redistribution) vision and the Nedlac Labour Caucus/ILO vision. It analyses SAF/GEAR and Labour/ILO views on the labour market and the role of the State. There is a certain logic to both the SAF/GEAR and Labour/ILO economic positions. They differ on the issue of how investors are assumed to respond. SAF/GEAR assumes that investors will respond appreciatively to restrictive fiscal policy despite its deflationary effects; while in the Labour/ILO world investors are assumed to throw their weight behind a more expansionary policy irrespective of the debt situation, labour market dynamics and inflationary prospects. Bibliogr., notes, ref.