FOOTNOTES
HILARY JOFFE: SA should get rid of disincentives instead of seeking solutions in misguided policies
Any study that begins with "the country’s economy is still heavily reliant on primary activities such as mining" risks sounding like its authors have been stuck in a time warp. This is made worse when the authors go on to launch a study of the top 50 JSE-listed companies which looks at them through the prism of using a "coherent industrial policy" to get them to invest more in SA. That prism tends to detract from a most useful study of the top 50 companies by the Centre for Competition, Regulation and Economic Development, led by former Competition Commission chief economist Simon Roberts. The study takes a thorough look at the changing composition, and the internationalisation, of that list of top companies as well as at profitability and investment trends. The study, funded by the Department of Trade and Industry, is important because it comes from left-leaning economists and not the usual financial sector types who analyse the JSE. And it’s particularly important because those ec...
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