South African productivity

 EmailPrint This Post Print This Post

By Cees Bruggemans, Chief Economist of FNB.

Congested highways into Cape Town, Johannesburg, Pretoria and Durban even after 09h00 on workdays, and again on the way out even before 16h00 tell a story about dismal productivity which makes a disappointing 2%-3% growth performance all but inevitable.

In addition, I remember a tale being told about another country where the authorities in charge elected to erect hand railings in the middle of the main corridors at all the main government buildings.

This was done so that those arriving late would not collide with those leaving early, all of it of course at all times happening in the greatest hurry.

A remark this morning suggested the country may be on its way to an experience equivalent to that faced by the UK in 1980, but in our instance without a Thatcher in sight.

These are sobering thoughts, for growth, employment, and social and political stability.

Source: Cees Bruggemans, First National Bank, August 25, 2010.

Did you enjoy this post? If so, click here to subscribe to updates to Investment Postcards from Cape Town by e-mail.

More on this topic (What's this?)
South African productivity
Well, a pictures worth a thousand words
Read more on Productivity, F.N.B. at Wikinvest
OverSeas Radio Network

Leave a Reply

  

  

  

You can use these HTML tags

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

Top 100 Financial Blogs

Recent Posts

Charts & Indexes

Gold Price (US$)

Don Coxe’s Weekly Webcast

Podcast – Dow Jones


One minute - every hour - weekdays
(requires Windows Media Player)
newsflashr network
National Debt Clock

Calendar of Posts

August 2010
MTWTFSS
« Jul Sep »
 1
2345678
9101112131415
16171819202122
23242526272829
3031 

Feed the Bull