Is financial prosperity the only measure of success that truly counts? Consider the consequences of living from hand to mouth, or feeling stuck in a perpetual cycle of poverty. Many people living lifestyles of lack can attest to suffering bouts of depression triggered by living lives that are nothing close to comfortable.
South Africa’s economy is said to have slumped significantly in the first quarter of 2019, shrinking by 3.2% – the biggest quarterly fall since 2009. Eskom reported a loss of over R20 billion over the last year, meaning power cuts are still looming in the near future. Most of us already know how an inconsistent electricity supply can affect a country’s productivity. Recent statistics also indicate an increase in the unemployment rate. All these trends indicate a nation in dire economic distress.
Is it fair to say that South Africa is a nation in depression, due to all its financial setbacks? If people experience poverty-induced depression, does it mean countries follow a similar path when faced with a combusting mix of economic challenges? Are there a number of other factors we can measure a country’s progress by? Or is the economy the most definitive factor?