CAROL PATON: Inclusive growth can only come from education reform
Without effective social policies designed to promote equality, a tide of even quite good growth, say 4%, will not be inclusive enough to lift all boats
It is pretty much agreed in the business and investor community that the biggest risk to our collective future in SA is a political rather than, say, an economic or financial crisis. This notion is also shared by political parties that favour a market-driven, liberal or social democratic development path. Within the category of political risk sit two big threats: social instability and populism. As these pose the greatest clear and present dangers, what can be done to mitigate them and promote social stability and sustainable economic and public policy? It has been widely held by the business and political elite and the institutions that manage the economy – the Treasury and the SA Reserve Bank – that the way to ward off these dangers is through the promotion of inclusive growth. There is a lot of agreement among elites about what this means and the structural reforms necessary to get private investment and hence growth going. This understanding will be the thrust of the two economi...