Unemployment rate will decrease with economic freedom
SANDTON - South Africa is facing an unemployment crisis and almost eight million South Africans are unemployed or have given up all hope of finding a job.
According to influential economist Dr Yuri Maltsev, when it comes to economic freedom, the free market is the only way to move forward. There is a 25 percent unemployment rate in South Africa and he is unsure how the government will create jobs for its citizens.
“South Africa should learn the lessons of history and abandon policies of state control, intervention and ownership,” said Maltsev.
He believes that job security for the employed prevents the jobless from getting jobs. Maltsev explained that many people stay in the same job for up to 40 years, which does not allow for growth or movement in one’s career. He added that people should have up to seven different jobs in their life, and keep moving forward to open opportunities for other people.
He said if minimum wages were reduced it would affect the youth. “I am against minimum wages. I would rather be begging than receive something below my worth,” said Maltsev.
Maltsev consults regularly with business leaders, policymakers and members of the academic community on international trade and economic development. He has met with many heads of state and government in the post-Soviet era and has built a reputation for accurately identifying economic trends and political developments. He strongly believes the free market can solve South Africa’s unemployment crisis, and the only way to secure human freedom is to have economic freedom.
