Discuss the role of Trade Unions. To what extend does the Participation of Labour Unions affect the South African Labour Market and the South African Economy. Read the caption below and answer the questions that follow:A settlement with trade unions remains the best way forward for South AfricaThe country is between a rock and a hard place.By Seán Mfundza Muller 14 Nov 2020 00:46Expenditure cuts require a political settlement that has failed to materialize under President CyrilRamaphosa. Image: Getty ImagesSouth Africa's medium-term budget is supposed to provide an indication of how public finances willbe managed over the next three years, but in the last decade it has largely served to illustratepersistent gaps between aspiration and reality. In part, this is because of limited economic growth andrepeated shortfalls in tax revenue.The Covid-19 pandemic has led to a rapid worsening of the situation, as reflected in the debt to GDPratio: a monetary measure of the broader national hopes that have been dashed over the same period.The cumulative result is that, unless economic growth experiences a miraculous resurgence, thecountry will need to implement large decreases in expenditure or increases in revenue to get debtunder control. Critics argue that doing so will further harm growth, while proponents argue that thealternative – risking a possible debt default – is worse.Source: https://www.moneyweb.co.za/news/south-africa/a-settlement-with-trade-unions-remains-the-best-way-forward-for-south-africa-2/

Trade Unions are aimed at providing security to the worker in terms of wage hikes, job security and…

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Discuss the role of Trade Unions. To what extend does the Participation of Labour Unions affect the South African Labour Market and the South African Economy

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter18: Public Economy

Section: Chapter Questions

Problem 26CTQ: Occupy Wall Street was a national (and later global) organized protest against the greed, bank...

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