The Economy On Your Doorstep: The political economy that explains why the South African economy 'misfires' and what we can do about it

by Ayabonga Cawe, David Masondo (Foreword)

We must look beyond the now, the current economy on our doorstep, and … reach out to a humanity that lies dormant in all of us.While the depth and sophistication of South Africa's financial and capital markets are lauded by indices the world over, South Africa is also considered to be the most unequal society in the world. The Economy On Your Doorstep probes the reasons for this tragic paradox of South African life and tries to go through and beyond the graphs, margin calls, trading updates, indices and earnings reports to explain how economic 'actions' frame the lives of South Africans in a transitional society faced with the challenges of unemployment, poverty and inequality.The economy is and always has been primarily about people. How they live, what they produce, under what conditions and what social, political and environmental factors influence decisions of consumption, investment and distribution, and how they act under conditions of uncertainty, scarcity, need and crisis. After all, economies are about people coming together to produce, exchange, distribute and consume goods and services that emerge from their communities and those of others. How and under what conditions can we ensure the expansion of our productive forces, while expanding access to the base of assets, services and support that allow for the social reproduction of our entire society and workforce?Ayabonga Cawe outlines some key areas that can and should define a policy agenda towards a 'people's economy' in South Africa and the long-term objectives of such a policy programme, and engages with the political economy of 21st century South Africa through an analysis of a few selected areas of the economy and the implications of this for policy action.This is what this book is about, an exposition of what we see around us and an explanation and discussion of possible ways beyond it.In this well-researched book, Ayabonga Cawe, a development economist, columnist and broadcaster, makes sense of the post-apartheid political economy through the lives of the many people who live and survive in it every day.

251 pages, Kindle Edition

Published May 12, 2021

Reviews

[Rirhandzu Rissenga · Rating 3 out of 5]

This book provokes one to have deeper reflection and conversations about the state of the economy of South Africa. The author started by reflecting at the state of things in Eastern Cape considering that it’s one of the province with the highest unemployment rate and he’s from there as well, I guess it begins with assessing where you come from. It’s actually quite sad that some factories that could be creating jobs have closed, the infrastructure is deteriorating and there’s no opportunity for growth. The book went to touch on some macro environment issues affecting the country, from the Monetory policy, scandal on fixing the Rand, Life Esidimeni saga amongst other issues that highlights why the economy keeps on misfiring and things are very bleak. The book was thoroughly researched and I felt it could easily be a thesis and you could tell it’s written by a scholar cos at the end it leaves you with some solutions to consider to improve the state of the economy. The author emphasises that as much as there’s some policy reforms to be address, however it starts in our ‘backyard’ at a municipal level, confronting the economy on our doorstep.

[Thando · Rating 4 out of 5]

It is amazing read. It offers alternative read about ways of decolonisation and decentralisation of our economy in SA. Aya is amazing thought leader and it is always refreshing to read material from him.