South African Leaders Trade Insults Over Harvard's Economic Advice

finance.yahoo.com

- finance.yahoo.com | 2 months ago

(Bloomberg) -- Seeking advice from Harvard University academics on how to boost a struggling economy would be seen as an astute move in most quarters, given the lauded institution’s depth of expertise.

South Africa’s third-largest political party has other ideas. Harvard professors Ricardo Hausmann, Robert Lawrence and Dani Rodrik were among more than 50 experts who contributed to a plan published by South African Finance Minister Tito Mboweni in August that aims at pulling the continent’s most-industrialized economy out of its longest downward cycle since 1945.

It envisions the state relinquishing its near monopoly of electricity, port and rail services, relaxing rules to make it easier to do business and privatizing assets to stabilize its finances.

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