Trudi Makhaya Columnist

I caught myself uttering a phrase the other day that would be a great contender for "cliché of the year" in public discourse: policy uncertainty. It has become too convenient to lay the blame for the economy’s poor showing and low confidence in the economy’s prospects at the feet of policy uncertainty. It is legitimate to argue that the direction of economic policy making is not clear. As I write this, if all goes to plan we will soon know the identity of the next leaders of the ANC. In many quarters, the outcome of the elective conference has been hotly anticipated because it is expected to put paid to policy uncertainty. But if one proceeds from the premise that the nation already has a few clear policy statements — not only the NDP but also more granular strategies such as the New Growth Path and the Industrial Policy Action Plan — it becomes clear that the overarching challenge facing the next political administration is to work through the political economy of implementation. I...

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