Are high labour costs causing unemployment? Seminar by the Progressive Economics Network 20 August 10h00 – 17h00 Parktonian Hotel Johannesburg South Africa continues to grapple with one of the highest unemployment rates in the world, but the public debate on the causes of the crisis remains polarized. A vocal presence in the media, supported by large sections of business and prominent officials in government and the Reserve Bank, argue that strict regulation, powerful unions and consequently high wages are to blame. The National Development Plan proposes a social contract in which workers accept wages “below what productivity gains would dictate”. But these arguments ignore important data showing that real wages for most workers have stagnated and profits have taken an ever greater share of GDP over the last decade. The decline in domestic buying power has made the economy more dependent on exports – but this growth model has not delivered investment or jobs as capitals continues to leak abroad or be channeled to speculative uses. As South Africa enters our most fractious wage bargaining ‘season’ yet, which will determine major economic outcomes, the Progressive Economics Network, coordinated by the Alternative Information and Development Centre (AIDC), invites you to a seminar that will critically analyze the debate on wages, productivity and unemployment. Speakers include Seeraj Mohamed (Corporate Strategy and Industrial Development, WITS), Trenton Elsey (Labour Research Services), Aisha Bahadur (Civil Society Research and Support Collective), Chris Malikane(Wits), Neil Coleman (COSATU) and Dick Forslund (AIDC). Please RSVP to Niall Reddy [email protected] (021 477 5770)
Posted on: Thu, 15 Aug 2013 14:29:23 +0000
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