SA, and for that matter the world, has a near dogmatic faith in infrastructure investment as the holy grail for economic growth and development. Infrastructure investment drives development aid institutions and development banks across the world. Since the New Deal after the Great Depression (1929-1933), all interventionist-inclined policies and economies believed that government spending is key to economic growth.

Not only Roosevelt in the US and Stalin in the USSR relied on large-scale public works programmes — SA also had its fair share of such programmes in the 1930s. This theme was maintained through the apartheid years. Unsurprisingly, this approach was adopted for implementation with a renewed vigour after 1994. It was the basis of the Reconstruction and Development Plan and has featured strongly in all government policies ever since...

Subscribe now to unlock this article.

Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).

There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.

Cancel anytime.

Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.