Latest News Archive

Please select Category, Year, and then Month to display items
Previous Archive
22 October 2018 Photo Sonia Small
Prof Philippe Burgers book Getting It Right
Prof Philippe Burger’s book Getting It Right: A New Economy for South Africa highlights the urgent need to purge government policies of all forms of toxic patronage relationships and mismanagement in order to save our economy.

South Africa is in an economic rut. Economic growth has collapsed, the unemployment rate has increased, and the country’s level of inequality is of the highest in the world. As if that’s not enough, high levels of corruption, patronage, and state capture also mean that it suffers from severe institutional rot.

It is a sobering picture that is painted on the outside cover of Getting It Right: A New Economy for South Africa – the latest book by Prof Phillipe Burger, Acting Dean of the Faculty of Economic and Management Sciences.  In the book, he explains how the legacy of the Apartheid era labour system, the old system of Bantu Education, and the former Bantustans still cripple our economy. And why 24 years of democratic government reforms could still not deliver on the promises of work and prosperity.

Education to blame
 

One of the chargeable factors he singles out, is the state of our education system.
 
“Half of South Africa’s children start school, but never finish. Less than one percent of learners achieve a distinction in Maths in the final matric exam. And on an organisational level, many schools are crippled by labour unions calling the shots, which often means that underperforming teachers stay in their jobs. All these things eventually contribute to our unemployment rate of 27%,” he says.

Towards solutions

The solutions he advocates include securing recurrent economic investment by creating an investor-friendly environment, but also paying urgent attention to ridding our education system and communal land areas under traditional chiefs, where 32% of South Africa’s population are still living, of all forms of self-serving patronage relationships.
 
Prof Burger wrote the bulk of the book during his nine-month tenure as a Fulbright Exchange Scholar in the Center for Sustainable Development at Columbia University’s Earth Institute (New York). The time he spent there with renowned American economist, Professor Jeffrey Sachs – who also wrote the foreword of his book – was invaluable to his research.
  
Returning from an overseas trip recently, Prof Burger was delighted to see Getting It Right on the bestsellers shelf of Exclusive Books at the OR Tambo Airport. 
“It was a great welcome-home gift!”

He hopes the book will be read by the generally informed public in the run-up to next year’s elections, and that it will help to influence how people think about policy issues.

News Archive

Deputy Governor of SA Reserve Bank inspires students
2016-08-19

Description: Deputy Governor of SA Reserve Bank  Tags: Deputy Governor of SA Reserve Bank

Dr Lyndon du Plessis, Head of Department of Public
Administration and Management, Francois Groepe,
Deputy Governor of the South African Reserve Bank,
Prof Philippe Burger, Head of the
Department of Economics and B.Com Hons student,
Mosoeu Mabote.

Photo: Siobhan Canavan

Students from the Faculty of Economic and Management Sciences had the opportunity to learn from the best in the field when the Deputy Governor of the South African Reserve Bank, Francois Groepe, presented a seminar on the changing roles of central banks.

According to Groepe, we are currently living in challenging times as central banks are called on to do more.

“Central banks have limits, and these limits are not always understood,” he said on 11 August 2016 in the Equitas Auditorium on the Bloemfontein Campus.

How central banks contribute to inflation

There are two main generally-expected roles from central banks: the obvious one of providing bank notes and coins, and the other, maintaining price stability.

According to Groepe, the aim of keeping prices stable is to ensure easier planning for the future, and to assist the poor.

“The poor are the ones more vulnerable to higher inflation because they hardly have enough to get by,” he said.

A negative impact on monetary policies could affect the economy negatively. This is as a result of higher inflation caused by the increase in food prices.

Furthermore, the 12% government debt renders a negative yield in the economy.

The stability of finances in South Africa


Financial stability is not an end in itself, but, like price stability, is generally regarded as an important precondition for sustainable economic growth, development, and employment creation.

We use cookies to make interactions with our websites and services easy and meaningful. To better understand how they are used, read more about the UFS cookie policy. By continuing to use this site you are giving us your consent to do this.

Accept