Job creation strategies to boost economic growth

Job creation strategies to boost economic growth

It has been argued that capitalism is not all doom and gloom – there are some positive aspects of it that significantly contribute to economic growth. Over the last few decades, small businesses have been forerunners in the job creation movement in South Africa and it is capitalism that encourages small businesses to compete, thereby improving their ability to meet consumers’ needs.

Due to government control inhibiting people’s capacity to make economic decisions, South Africa does not have a free market economy. Therefore, one strategy to speed up the job creation process would be to decrease government’s involvement in the limited freedom placed on people’s economic participation. This strategy can be implemented through the reviewing of certain laws and policies that may be amended.

Government spend on unemployment benefits may be a worthwhile poverty reduction strategy, while lowering employment taxes to increase the demand for labor in organizations. The model of capitalism may be believed to create a system of winners and losers, but it is clear that it does contribute to job creation.

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