It was sad to see the Sunday Times name South African President Jacob Zuma its 2014 Mampara of the Year. Some 90% of the newspaper’s readers voted for the man from Nkandla to be named South Africa’s King of Fools. Despite a proven bounce-back-ability, you’ve got to wonder how Zuma’s reputation will recover.
Perhaps we should blame his misfortune on economists. Throughout history, it has been the duty of economists to convince politicians why their nations cannot have both guns and butter; high social grants and low tax; higher employment and inflexible labour laws. Or, in a local context, support a $20m upgrade to your private homestead and expect disciplined State spending.
South African economists have clearly not been heard. Maybe they can try harder, or differently, in 2015.
To subscribe to Alec Hogg’s free daily emailed newsletter, click here.
Weekend’s top read stories on Biznews.com:
Oil price collapse: The big story of 2014, so where to from here?
Richard Branson: Rhino poaching can be crushed like is was in 1993
What Steve Jobs believed was actually behind Apple’s greatness
Meet Brian Chesky: Hotel-disrupting founder and CEO of $13bn Airbnb
Brilliant analysis. Cees Bruggemans: Is OPEC dying?
