Original Research

Theoconomy: Rebooting the South African economy

Johann Walters, Jacobus M. Vorster
In die Skriflig/In Luce Verbi | Vol 53, No 1 | a2423 | DOI: https://doi.org/10.4102/ids.v53i1.2423 | © 2019 Johann Walters, J.M. Vorster | This work is licensed under CC Attribution 4.0
Submitted: 23 October 2018 | Published: 30 April 2019

About the author(s)

Johann Walters, Unit for Reformational Theology and the Development of the South African Society, Faculty of Theology, North-West University, Potchefstroom, South Africa
Jacobus M. Vorster, Unit for Reformational Theology and the Development of the South African Society, Faculty of Theology, North-West University, Potchefstroom, South Africa


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Abstract

In this article, the reasons why ethics ought to be one of the pillars of an all-inclusive economic growth strategy are expounded. Because of the unethical burden of the South African history, coupled to the myopic way of transforming the post-apartheid society and building an inclusive nation, a deep rooted ethical and trust deficit prevails among the people of South Africa. This is the reason why the South African society is in a sophisticated and self-inflicted war with itself that permeates nearly all segments and components of the politico-economic order. The authors argue that a shared ethics and vision, founded upon a strong shared ethos, would restore and bolster trust and confidence in the economy. This would reform the economic household and place the economy on a growth strategy of 6% per annum that is needed to improve the economic prospects and allow to break free from the equilibrium of low growth and high inequality in which South Africa has been trapped for decades.

Keywords

National Development Plan; Discernible growth; Inequality; Adam Smith; Parliament of the World’s Religions; PUI dilemma; Investment; Job creation

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