At a time when tensions are rising due to growing inequality and unemployment, ERSA’s host is joined by Prof. Andreas Wörgötter from the Vienna University of Technology to discuss some of the key takings from his research co-authored with Christopher Loewald, and Konstantin Makrelov called ‘Addressing low labour utilization in South Africa’. In this podcast we discuss why South Africa’s inactivity rate is an international outlier even when compared to other emerging markets and what we can earn from past policy successes and failures in our labour market. Considering that the Covid-19 pandemic has highlighted pre-existing weaknesses in the economy, we discuss the role of social grants, entrepreneurship and the informal sector. Combining experience from South Africa, learnings from other countries and solid economic foundations from the likes of Schumpeter and Keynes, this podcast gives a broad perspective to the complex nature of rising inequality in South Africa. As Prof Wörgötter explains, more than ever, it is essential that the support provided should focus on making the economy more resilient.
The beat used in this production, called ‘Resolutions’, is royalty free and can be found at freebeats.io.