South Africa’s economy is in a mess, to say the least, and this is solely and exclusively the fault of policymakers. Yet it is not beyond redemption. The overall remedy lies in simply utilising empirical evidence in the form of studies that demonstrate the close and proven correlation between economic freedom (free markets) and high economic growth, which in turn translates to increased GDP per capita, high employment levels, better education and increased lifespans: all the positive social indicators that collectively amount to a good, contented and prosperous life. The Human Freedom Index (published by the Cato Institute), the Index of Economic Freedom (Heritage Foundation and The Wall Street Journal), the International Property Rights Index (initiated by economist Hernando de Soto and involving the Property Rights Alliance) and Economic Freedom of the World (Fraser Institute and over 100 think tanks worldwide) all attest to the axiomatic, empirically verifiable connection between economic freedom and economic growth, and the positive social outcomes that emanate from this.
SOUTH AFRICA’S SLIDE
The socio-economic misery of South Africa is self-inflicted and, ipso facto, can be reversed, as illustrated in the Economic Freedom of the World (EFW) report, which is evidenced by the abovementioned studies. The EFW report ranks countries according to the measurement of their level of economic freedom. South Africa features at position 84 out of 165 countries, according to the EFW’s annual report of 2019.
After being placed 54th in 2000, South Africa’s measure of economic freedom has gone into a sorry decline, hitting 62nd in 2005 and 79th in 2010.
Bu hikaye Farmer's Weekly dergisinin June 24, 2022 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Farmer's Weekly dergisinin June 24, 2022 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
ARC names best dairy producers of the year
The Agricultural Research Council (ARC) recently announced the winners of the 2024 National Master Dairyman Awards at an event hosted by AgriExpo in Stellenbosch, Western Cape.
Lion breeders to give up bone stockpiles?
The Ministry of Forestry, Fisheries and the Environment issued an official notice in mid-November in which it called on lion breeders to voluntarily hand over their lion bone stockpiles to the state as soon as possible.
Thousands of British farmers march on parliament against inheritance tax
Thousands of UK farmers gathered in London, England, on 19 November to demand the government repeal a proposed inheritance tax on agricultural land, which they argued threatened the future of family-run farms (see page 4), Al Jazeera reported.
Avocado frittata with sundried tomatoes, feta and olives
This wholesome, vibrant frittata is perfect for brunch or a light supper. Recipe and photo: The South African Avocado Growers' Association.
Feed, hay, and other costs are up, so it's time to get creative
Breeders and riding schools need to explore innovative ways to generate income in order to ensure their survival, says Dr Mac.
How to make polystyrene seedling trays last longer
While thinking about how to prolong the lifespan of polystyrene seedling trays that are exposed to harsh sunlight, Bill Kerr began to wonder if a coat of paint might offer a solution.
Living the 'culture' in agriculture
Creation Wines has won numerous awards, was ranked fourth in the World’s Best Vineyards in 2023, and more recently won the V d’Or award for the Best Brand Experience. The owners, Carolyn and Jean-Claude Martin, spoke to Glenneis Kriel about how their winery became a top tourism destination.
Time to take a deep breath on the slopes of the Magaliesberg
Around 100km from both Johannesburg and Pretoria in Gauteng and a tad over 40km from Rustenburg in North West, Farmer’s Weekly found a fine retreat on a working farm where couples may kindle their romance.
African penguins could be extinct by 2035 how to save them
Protecting the critically endangered African penguin is good for the environment, other animal species, and the economy, say Lorien Pichegru and Dr Alistair McInnes of Nelson Mandela University, Katrin Ludynia of the University of Cape Town, and Peter Barham of the University of Bristol in the UK.
An urgent need to confront Nassella in SA
South American grass species from the genus Nassella were unwittingly introduced to South Africa over 120 years ago and continue to invade montane veld. As Mike Burgess writes, research-based action is required.
