With this new competition we want South Africans to become aware, involved and bring forward positive, constructive solutions, leading to a sustainable future for our country.
2024 will mark South Africa’s thirtieth year as a democracy. And, while progress has been made on the integration of society, the country seems to have fallen short of expectations on many other fronts. South Africa’s low levels of economic growth have remained a seemingly intractable problem and attempts at economic reform have done little to realise the country’s potential. What’s more, low growth is further exacerbating social problems like crime and corruption, creating a negative feedback loop that in turn undermines the country’s ability to make meaningful progress.
The challenges that contribute to such negative feedback loops include:
However, South Africa’s multi-faceted economic challenge is further set against a global backdrop. It is not simply a matter of ‘any growth’ will do. Growth must be sustainable, and it has to work for society as a whole. It must, above all else, be inclusive, balanced and fair, and help the country make tangible progress when it comes to addressing inequality. How are we to address this challenge, especially when the shortcomings of redistributive policies, more than three decades on, are so painfully obvious?
With this in mind, PSG invites the country’s fellow “Big Picture Thinkers” to apply their minds to this problem by presenting a discussion document (see criteria below) on how to tackle the deeply intertwined challenges that seem to limit South Africa’s growth potential. Please support any recommendations you make with verifiable, quantitative justifications.
Present your arguments for why your approach will help to address the systemic challenge facing the country. You may want to touch on some (or all) of the issues listed above and the approaches below.
Approaches to be considered:
We encourage using an innovative model to tackle this topic. While optimal control theory stands out, different models can be applied and all model approaches will be considered. Qualifying papers should explain potential conflicting policy objectives, binding constraints to be considered and should include the required trade-offs to design optimal inclusive economic growth policies.
A discussion document analyses a particular issue and offers policy recommendations. The document describes the problem or issue being addressed, analyses its root causes, evaluates policy options for addressing the problem or its causes, and recommends a way forward. Generally, the analysis is narrative-driven, relying on existing work (academic and grey literature and secondary data) and high-level analysis, although original analysis is welcome.
The quality of the discussion document will be judged according to the following dimensions:
(In no particular order)
Structure
The document should be between 3000 and 5000 words in length.
Ideally, it will include:
The policy implications must be framed in terms of a current policy challenge South Africa is faced with. The document should be referenced with a bibliography.
Formatting
The discussion document must be submitted in Microsoft Word, with headings clearly marked, and charts must be in a format such that the data and graphics are fixed. If it is a picture, please make sure it has a high resolution so that it is good quality.
Final submission date
All final discussion documents must be submitted by 30 August 2024 in order to qualify. No late submissions will be accepted.
Note: Discussion documents can be entered either by individuals or groups. The prize money will not change.
Affiliates of the PSG Financial Services Group, a licensed controlling company, are authorised financial services providers.
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