The SARB and Reforming the Structure of the Economy


By Gareth B In recent months, SARB Governor Marcus has become more outspoken regarding the need for more action to be taken with regards to structural reforms, typically meaning action governmental policymakers should take to enhance the growth and employment prospects of the economy through legislative reforms. Back in June of this year, the Governor [...]

Africa: The Next Major Boom-Bust Cycle?

- PHOTO TAKEN 20DEC03  - A young Maasai carries a coca-cola bottle container before the graduation t..

By Chris Becker

The average African’s time preference will need to change if Africa is going have the capital and investment funds necessary for the transformation into a manufacturing hub. But with a tradition of mismanaged currencies, negative real interest rates, and rising consumer credit there is a strong anti-saving mentality in place.

Competing Currencies in Somalia


By Finbar Feehan-Fitzgerald

Modern Somalia is a real-life example of concurrent currencies circulating alongside one another. This was Friedrich Hayek’s ideal monetary system. The collapse of Mohamed Siad Barre’s Democratic Republic of Somalia in 1991 gave us the unique opportunity to observe concurrent currencies absent any legal restrictions in practice.