Other nations have built more equal societies, but SA is found wanting
Mechanisms to achieve radical transformation are vague — research firm has lessons on reducing poverty
Deputy President Cyril Ramaphosa commented in a speech on April 19 that "[t]here is nothing abstract about radical economic transformation. It is fundamentally about inclusive growth. It is about building a more equal society." Yet most local economists would argue that the concept of radical economic transformation is still an opaque idea. More than four months after President Jacob Zuma reintroduced the concept in his party’s January 8 statement, little detail about this radical change has been elaborated. Admittedly, Ramaphosa used his speech to talk about what radical economic transformation is aiming for (job creation, skills development, changing the ownership patterns of the economy) and what it requires (leveraging infrastructure investment more strategically, creating a new generation of black industrialists). He did not provide information on the mechanics of the endeavour and certainly did not identify anything radical on the horizon. Encouragingly, the deputy president i...