Abstract:
This study interrogated the politics of South Africa’s macro-economic policy. It
done this by briefly analyzing the RDP and GEAR at length. The purpose was to
identify the flaws in its conception and philosophy in order to modify it to make it
more people friendly enthused with social democratic ideals. This is because it
was hypothesized that if GEAR and the philosophy underpinning it were humane,
poverty would have been significantly reduced. Moreover, the objective of this
study was to highlight major macro-economic policy trends so as to suggest a
macro-economic policy that will respond to the needs of all the people,
particularly the poor. The macro-economic policies of the DA, COPE and
COSATU were analysed to this end. Moreover, the NGP which replaced GEAR
in November 2010 was also analysed, and it was found that they don’t differ
ideologically. Both qualitative and quantitative research methodologies were
used to collect data. It was found that while GEAR succeeded in stabilizing the
economy, it to achieve its employment, social equality and economic growth
target. This study then recommended for a macro-economic policy which will
intertwine private enterprise government intervention and planning to realize fair
competition, maintaining a balance between high growth rate, low inflation and
unemployment, together with the nationalization of the means of production.
These proposals will yield equality, economic growth and higher job creation.
