HOWARD FELDMAN
The Misery Index is an economic measure that looks at the relationship between unemployment and inflation. South Africa, sadly, hovers between fifth and second place as one of the world’s most miserable nations. Venezuela has beat us for the past few years, and it would seem that it has secured the top spot for the foreseeable future. The war in Yemen, and the conflict and instability of the Democratic Republic of Congo, also help to keep us from achieving this dishonourable position.
But it’s not through lack of trying.
It hasn’t been easy to achieve this accolade. Not with South Africa’s infrastructure, natural resources, beauteous country, and mild climate. One had to get up very early (like 05:00) each morning for nine years in order to achieve the “success” of taking the country down the path of destruction. South Africa is not an easy country to destroy – it took real commitment to take us down that path.
I am certain that we hardly needed a misery measure to tell us what South Africans are feeling. The anxiety, stress, and general despondency caused by corruption is hard to understate. Rising costs and diminishing liquidity is a challenge for most. Add the Eskom debacle to the mix, and what results is a lethal combination of helplessness and hopelessness.
But all the latest studies prove to us that helplessness is learned. This means that it can be unlearned.
Consider the following:
- The latest Eskom power shutdown followed suspiciously closely on President Cyril Ramaphosa’s announcement that he intended unbundling the state utility; and
- It took only three days for the parastatal to implement Stage 4 load shedding. This is something that South Africans have not encountered or had to endure to date.
As unpleasant as this might be to live through, it is also the most tangible sign of a push back against Ramaphosa and his drive to rid the organisation of corrupt elements.
We need to recall that the pro-Jacob Zuma forces of a few years ago were intent on proving that the country needed to secure a Russian nuclear deal. As a strategy, they “proved” that they could not meet demand, and they (Eskom) could not cope with production of electricity in the country.
Power outages were used back then to “display” how important this deal was. It is highly possible that this tactic is being deployed once again. Only this time, it is a push back against Ramaphosa, and to show him that he and Pravin Gordhan will not be able to accomplish what they need to.
It might be resistance to change (always hard). It might be about protection of dubious access to funds, or simply about ego. But there is little doubt that the Gordhan-Ramaphosa combination does not sit well with many in the organisation.
We should consider this as something positive. We should consider the fact that Ramaphosa’s State of the Nation Address (SONA) was about the economy and business and about practical solutions, and that he didn’t giggle his way through the numbers. It is positive that SONA wasn’t about Israel and Palestine, and that it focused on South Africa Inc. It is positive that the opposition parties recognised what the country needed to hear, and that they, too, listened.
We have come a long way on the journey. We just need to ride out the turbulence.
The Misery Index speaks to reported numbers. It is a reflection of how seriously the government takes the pressing issues of employment and inflation. We need to hold it to account. Call it out when we can. But we also need to keep perspective, try and be positive, and then support the change.
