Over the last decade or so there has been something of a revolution in economics. The long held belief that unfettered markets deliver good outcomes for all is now
Much of this rethinking has been in response to economic policies implemented since the early 1970s that favoured unfettered markets, especially in . These have led to growing inequality across the world, excessive corporate power and unacceptable concentrations of wealth in a small elite. This has certainly been the case in South Africa. But there may be room for optimism following the African National Congress’s . What’s followed are efforts to knit together a unity government – essentially an alliance between the African National Congress, which has dominated South Africa at a national level since 1994, and its historical opposition, the Democratic Alliance.
But the country could move towards the same goal for another reason – that the space has been opened for ideas to be contested. that South Africa requires uncertainty and contestability in its politics to ensure that economic growth is not skewed to benefit the political and economic elite. Another example is from the late 1990s and early 2000s, when President Thabo Mbeki, against all scientific advice, adopted bizarre views about HIV-Aids. This was a policy error that came at a The two examples illustrate the dangers when leaders can take unilateral policy action. A more plural political space will place a lot more pressure on political actors to base their decisions on evidence.
Such an approach to policy development can draw from the country’s strong institutions outside the state. These include excellent universities, a strong and capable civil society, highly capable legal institutions, trade unions with good policy capabilities, and an adept business community.Nothing is certain. There are, however, good reasons to feel a little more optimistic, because of the new pluralism, about being able to address current challenges and those that will emerge.