In South Africa, a toxic mix of ineffective social spending and critically low entrepreneurial intent has resulted in an unemployment disaster. Breaking down the numbers paints a disturbing picture, writes Frans Rautenbach.
The struggle between workers, who want more money, and companies, who crave higher yields for less cost, is as old as time. Economists throughout the past century have suggested that higher wages lead to increased productivity, and a recent analysis of productivity by state may add further evidence to support the case.