Recession, Recovery & Reform: South Africa After Covid-19 paints a vivid picture of South Africa today and the pro-growth structural reforms around which South Africa’s future economic performance must now pivot. Edited by prominent economist Raymond Parsons, the book comprises a fascinating cross-section of essays written by some of South Africa’s top intellectuals and thought leaders. It is a must read for those who are concerned about South Africa’s well being in these highly uncertain, disturbing times and those who are willing to believe that a new dawn is indeed still possible.
Recession, Recovery & Reform edited by Raymond Parsons
Compelling and insightful, Recession, Recovery & Reform: South Africa After Covid-19 comes at a time when South Africa desperately needs to change course and build a bigger, stronger and better economy. Just as the country was running out of time (and money) to fix its ailing economy, Covid-19 burst onto the scene. And our world changed forever. Not surprisingly, economic uncertainty and volatility have peaked. But for South Africa, the advent of Covid-19 has been a powerful and almost inevitable wake-up call to government, business, labour and the general citizenry to do things differently and better, including rediscovering economic fundamentals and getting our priorities right.
Can South Africa, with its economy already in a tailspin before Covid-19, act decisively as entrenched problems are thrown into sharp relief against the painful backdrop[ of the pandemic, the lockdown and their aftermath? That is the overarching question that this book tackles.
Unlike a virus, which can appear without warning, a country’s political and socioeconomic circumstances are the result of the decision’s and actions taken by innumerable people, over many years. After the so called “lost decade” under the Zuma administration, South Africans had high hopes that President Ramaphosa would deliver on his promise of a “new dawn”. Yet the South African economy is caught in the “low growth trap”and the fiscus is still extremely vulnerable. Economic transformation in its broadest sense must become the watchword.