"The development profiles of countries that have made major inroads into poverty are characterised by two facets rather than by high rates of public investment alone. The first is that they have been able to grow fast because of reduced regulation..."
"Telkom is a landline monopoly and it controls the bulk of access to overseas telecommunications. It is therefore able to control most access to the international backbone of the internet and price its services way above competitive levels."
Most people know that the use of too much regulation, where it's not needed, is one of the top reasons why South Africa is not achieving its full potential as far as the growth of its economy is concerned. A typical example of this is the Telecommunications situation in this country. Everyone (except Telkom) knows that telecoms regulations in this country are what is making the telecoms sector to be as static as it is now. There is absolutely no way that the current telecoms regulations can help businesses compete in the global arena. The government knows all about this: however, despite many promises to liberalise the industry, nothing seems to be happening.
It's actually quite sad when one stop to think about the barriers that our own government is putting in front of us, the very citizens who put it into power. What benefit does the government gain by restricting businesses with (often) uncalled for regulations??? Is the development of excessive regulations a way in which the government shows that it is actually doing its job??? Unfortunately, this is the view that it currently has.
Until the government realises that NOT everything can be solved via the use of too many restrictive regulations, this country is NOT gonna acquire the success that we all know it can achieve. As I said, it's quite sad when one just takes the time to think about it. I hope the government can spare us a minute to think it through as well.
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