Big fix to save us from state capture
Top economists advise on how to rescue a looted country
Revelations in this week's leaked e-mails appear to affirm allegations of state capture by the Gupta family and other individual s. Details of dodgy deals emerged in a week when the unemployment rate reached a 13-year high of 27.7%. With investor confidence low and corruption allegations mounting, what will it take to turn around the economic crisis? The surest remedies are time and some well-placed actions, experts say. "What we need is for those on all sides of the political spectrum to have policies so invigorating that they will persuade business to become investors in new fixed-capital investment," said Ian Cruikshanks, an economist at the Institute for Race Relations. "Why do we have to do that? Because we don't have the structure to turn the economy around," he said.New fixed-capital investment, in the form of factories and manufacturing machinery, would boost industry and employment. But it would be a multi-year challenge and the fall of President Jacob Zuma would be only th...
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