Over the next decade, do you think South African government spending will be larger, smaller or the same relative to GDP? Explain what you think should happen and why. Contrast this with what you think will happen, and explain why.

September 14, 2023September 14, 2023 Discipline: Economics

Essay plan: 

  1. Expand on why SA government spending is high

    1. Wage bill and its theory?

    2. Social welfare duty and its theory

      1. inequality in SA so provision of health care, education etc, pensions etc. 

    3. Revenue < Expenditure

  2. What I think should happen and why

    1. Given Musgravian objectives – distribution and allocation

    2. Why? Rising inequality, rising welfare requirement

    3. Countercyclical role of govt expenditure necessary for even private sector crowding in.

  3. Over the next decade, will try to place austerity measures but spending will be higher

    1. Kinds of austerity proposed and the theory behind it.

    2. The effect of austerity measures – is dire, so the government will step in and overspend as their history shows.

    3. Rachet effects, using stylised facts

    4. The alternative would be to increase welfare spending but squeeze the wage bill but workers through unionisation have strong bargaining power.

    5. Fiscal discipline with no jobs and economic growth relies on govt spending so effectively it will increase

  4. Academic tone and well structured arguments

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