SONA22_ A Brief Analysis
On Thursday evening I sat glued to the television listening to President Cyril Ramaphosa’s 5 th State of the Nation Address (SONA) from the Cape Town City Hall. I was watching as a student of Econometrics, and hereunder will provide a brief analysis of what I believe to be the most crucial elements of SONA 2022 with regards to the economy. Firstly, allow me to give very brief definitions of a few terms that are relevant for my short analysis: · COORDINATION FAILURE is defined as a situation whereby, the inability of agents to coordinate their behavior leads to an equilibrium that is worse off than another possible equilibrium (Todaro, 2015, p165). · A COMPLEMENTARITY is an action taken by an agent which increases the incentives for other agents to take similar actions (Todaro, 2015, p166). · A BIG PUSH is a concerted ...