This study reviews three of Tobin’s major contributions to economics, namely; Tobin’s q , liquidity preference as a behavior towards risk, and Tobin’s global transaction tax on foreign exchange transactions to identify any potential unifying features. The original suggestion of this thesis, given Tobin’s last contribution, is the role of savings that links all three contributions. The extension of this study aims to review these contributions so as to come up with po ssible links between them and apply the theory of q to a sample of forty five South African firms to a ssess firm diversification and performance measurement when it comes to monopoly profits, as well as the stability of any exchange rate when it comes to the Tobin tax issue, given South Africa’s links to the Pound, Dollar and Euro. Our findings out of the empirical analysis performed hints at investors how to go abo ut in maximizing profit in the South African market based on the diversification s trategies they can adopt. Indeed non-diversified firms have a higher risk involved a nd performed better than diversified ones from 2007 to 2009. Our results bas ed on book values are also of great relevancy to entrepreneurs in assessing the degree of diversification optional to them. The deviation of q from unity is another interesting point to note wh en it comes to ordinary profits for monopoly firms like Eskom. Tobin’s q and risk are indeed connected through discounting and the relationship between risk and a transaction tax imposed on international financial transactions is taxation itself. In order for economic growth to arise into an economy, investment is cruc ial and this is achieved if volatility in financial markets is reduced, and hence the impo rtance of reviewing the Tobin tax. The focus here is to link savings, the Tobin tax an d the issue of international financial market liberalization to determine the impact on gl obal developments and trace these through to the South African situation. We also rev iew Tobin’s q and its important link to the IS/LM framework which differs from the normal textbook a nd Keynesian view. In other words we explore in detail, Tobin’s (1969) general equilibrium approach to monetary policy and look at how financi al policies and events can influence aggregate demand, through an effect on th e valuation of physical assets relative to their replacement cost. As the review h opes to find a common theme, in the three contributions, we present a discussion of eac h original article in some detail. Chapter Two and Three includes Tobin’s q and portfolio decisions respectively. Chapter Four covers the tax on foreign exchange tra nsactions in greater detail, and vii attempts to view this as a solution to the passing current world economic crisis. A final chapter provides a summary of our results and modest macroeconomic proposals for South Africa. / Thesis (M.Comm.)-University of KwaZulu-Natal, Pietermaritzburg, 2009.

The market value of Black Economic Empowerment (BEE) companies listed on the JSE Securities Exchange (JSE) has fallen to only 2% of the overall market capitalisation of the JSE. Many BEE companies have disappeared from the exchange and there have been many failures.<br /> <br /> In the context of the report of the BEE Commission (BEE Com), it is essential to understand why these failures have occurred and it is essential to research methods of structure, capitalisation and listings to ensure that ownership of the economy is fairly distributed in future as per the recommendations of the BEE Comm. The motivation for this research project is based on the fact that as a member of the Historically Disadvantaged Group in this country, and after having qualified in the Faculty of Law with a commercial background, I would like to attempt to make a meaningful contribution to the transformation that should take place to facilitate equality of ownership of the economy.<br /> <br /> The proposed research is critically important as the recommendations of the Commission have to be implemented as a matter of urgency, given the current slow growth rate of the economy and given the fact that as many more new enterprises could be listed on the JSE, it would provide further access to jobs, thereby positively impacting on the unemployment situation thereby contributing to poverty relief.

Thesis (MS en S)--Stellenbosch University, 2001. / ENGLISH ABSTRACT:The study focus on the Greater Saldanha and environment by evaluating the socio-economic impact of the Saldanha Steel project on the area. Major development projects, like the SSP, can create significant impact on the socioeconomic features within the region of influence. This impact affects the provision of public services (education, health services, police protection), social services (housing, transport, urban land use) as well as the fiscal features of the region. Following the National elections in 1994, the new government implemented the Reconstruction and Development Programme (RDP) to address social and economic problems in specific regions. The RDP was followed by the Growth, Employment and Redistribution (GEAR) strategy. Spatial Development Initiatives (SDI's), form part of the GEAR strategy and aims to address regional differences and promote sustainable long term development, economic growth and employment in the region. The West coast Investment Initiative (Well) is one of the eight SDI's that were identified. The Saldanha Steel project (SSP) is the focus project of the WCII. The initiative is a mixed industrial and agrotourism SDI. Great expectations were formed with respect to the number of employment opportunities that would be provided by the SSP, as well as the economic progress and development within the region. This study project evaluates the socio-economic impact of the SSP by focussing on the demographic aspects, social infrastructure and services, employment and income, housing and development, infrastructure provision as well as the SSP's involvement within the communities of Greater Saldanha and environment. / AFRIKAANSE OPSOMMING: Die studie fokus op Groter Saldanha en omgewing deur die sosio-ekonomiese impak van die Saldanha Staal projek (SSP) op die gebied te evalueer. Groot ontwikkelingsprojekte, soos die SSP, kan 'n groot impak maak op die sosio-ekonomiese kenmerke binne die streek of area van invloed. Die impak word veral ervaar in die verskaffing van publieke dienste (opvoeding, gesondheisdienste, polisie), sosiale dienste (behuising, vervoer, stedelike grondgebruik) sowel as die fiskale karaktertrekke van die streek. Na die Nasionale verkiesing in 1994, het die nuwe regering die Heropbou en Ontwikkelingsprogram (HOP) geimplementeer om sosiale en ekonomiese probleme aan te spreek. Die HOP is in 1996 gevolg deur die "Growth, Employment and Redistribution (GEAR) strategie. As deel van die GEAR strategie, is Ruimtelike ontwikkelingsinisiatiewe deur die Nasionale Regering ingestel om streeksongelykhede aan te spreek en volhoubare lang termyn ontwikkeling, ekonomiese groei en werksgeleenthede te verseker vir die streek. Ag ruimtelike ontwikkelingsinisiatiewe (ROI) is ingestel, waarvan die Weskus Beleggingsinisiatief een is. Die Saldanha Staal projek (SSP) is die fokusprojek van die Weskus Beleggingsinisiatief. Die inisiatief is geidentifiseer as 'n gemengde industrieële en landboutoerisme ROI. Groot verwagtinge is geskep ten opsigte van die hoeveelheid werksgeleenthede wat geskep sal word deur die SSP, sowel as ekonomiese vooruitgang en ontwikkeling binne die streek. Die werkstuk evalueer die sosio-ekonomiese impak van die SSP deur te fokus op demografiese aspekte, sosiale infrastruktuur en dienste, indiensneming en inkome, behuising en ontwikkeling, infrastruktuurvoorsiening sowel as die SSP se betrokkenheid by die gemeenskappe van die Groter Saldanha en omgewing.

South Africa has undergone a remarkable political transformation since the birth of democracy in 1994, yet it remains plagued by extremely high levels of socio-economic inequality, violent crime and social unrest. Although inequality is often regarded as a major driver of many social problems, the evidence base concerning inequality in South Africa is relatively limited, consisting primarily of national level Gini coefficients or General Entropy measures based upon household income, expenditure or consumption data. In this thesis I argue that these broad national level measures say little about people's actual day-to-day lived experiences of inequality and how these individual experiences of inequality may be shaped by the local geographical areas in which people live and go about their daily lives. I construct a series of empirical measures of exposure to socio-economic inequality which reflect the socio-spatial environments in which people live. I argue that these new measures can be used as explanatory factors in the study of other social outcomes, both at an individual level (for example, individuals' attitudes) and at an area level (for example, rates of violent crime). Exposure to inequality is measured both from the perspective of the 'poor' population and the perspective of the 'non-poor' population and the measures are constructed and presented at small area level using the Datazone statistical geography. I analyse the spatial distribution of exposure to inequality and find that exposure to inequality is typically highest in urban neighbourhoods, particularly in the major metropolitan areas. I develop a measure of intensity of exposure in order to highlight areas with both high exposure and high levels of deprivation. I also present one example of how my new measures can be used to explore associations with other outcomes, specifically looking at the relationship between people's lived experience of inequality and their attitudes towards inequality and redress.

No description available.

This research set out to investigate the role that community radio can potentially play as a space in which young people engage with their own role as citizens and, in so doing, participate in discussions that seek to address social problems in a community divided by class, income, gender and race. The study examines how a local community radio station - Radio Grahamstown - developed a youth programme Y4Yin which the producers of the show and its audience came together to negotiate the meaning of citizenship. The study examines whether this interactive programme was able to function as something like a public sphere where in young people were able to develop a greater sense of agency, at least in the realm of citizenship. Using evidence gathered through focus group discussions with a group of young school-going leamers, interviews conducted with the producers of the show Y4Y, and drawing on Dahlgren's elaboration of a functional public sphere, the research concludes that the show provided a useful platform for Grahamstown high school students to develop their own notions of citizenship and to, at least partially and tentatively, build some 'bridges' across the vectors of socio-economic division in the town. However, the research also concludes that the Y4Y producers often failed to use a mode of address contemporary to the youth and often did not use production techniques congruent with young people's cultural tastes. This limited the programme's appeal and its potential as an enabler of discussion about notions of citizenship and as a platform for social bridging. In addition, because of the producers' control over the choice of topics put up for discussion, open interaction was more limited than could have been expected. In addition, the study also concludes that various limitations to the leamers' freedom of expression (including their fear that teachers might be listening in to the shows) inhibited the programme's role as a deliberative public sphere where issues could be aired, common ground found, and solutions discussed.

The Introduction to the statement explains that its aim is to contribute to the search for a more just, equitable and sustainable economic dispensation. It reminds people that, as a nation, we have overcome the horrors of apartheid and made significant progress towards peace and stability. However, we are sitting on an economic time-bomb; if we do not strive for economic justice we must expect a deepening of our social problems such as crime, lawlessness, poverty and unemployment. The second section considers the Church's Prophetic Duty to speak out and to bring Gospel values to bear on political, economic and social matters. A second transformation is needed: massive, and overwhelmingly positive, political change has occurred, but the same has not yet happened in the economy, with the result that the majority of our people still have little chance of fulfilling their reasonable hopes for a better life. Section three turns to the question of Discerning Economic Justice. It is asserted that every economy has a moral quality which makes it possible for us to pass judgements as to whether or not it is a just economy. In order to make such judgements the presence or absence of various factors must be assessed, including poverty, unemployment, discrimination, materialism and environmental degradation. Next, the statement deals briefly with Economic Structure. The fact that economies are complex, and that most people are unfamiliar with economic terminology, results in many people feeling powerless. They believe that, as individuals, they have no influence over, or responsibility for, the way an economy operates. Some of the negative consequences of such a belief are mentioned, and it is pointed out that we have a moral duty to make the correct choices, even in complex matters. Section four, Christian Economic Values, offers some guidelines for those striving to make these choices. The section summarises some of the main concepts and principles developed by the Church as ways of making concrete the commandment to 'love your neighbour as yourself'. These include the common good, solidarity, the option for the poor, the common destiny of goods, and the integrity of creation. The South African Economy is analysed in section six, according to the criteria mentioned in section three. Poverty, unemployment, materialism, greed, the lack of women's economic empowerment, debt and corruption are among the features identified as contributing to economic injustice in our country. But the gap between rich and poor is singled out as the defining characteristic of our economy, with millions of South Africans surviving, like Lazarus, on crumbs from the rich man's table. No country's economy exists in isolation, free from outside influences. Therefore, in section seven, some attention is given to The World Economy, especially to aspects which affect South Africa. The point is made that international factors can act as powerful constraints on moves towards economic justice at home, without their being, however, an excuse for a lack of effort in this direction. When statements such as the present one are published, people have a right to expect the authors to make specific and practical recommendations. This is attempted in section eight, What Can Be Done? The major role-players in the economy are identified and various steps are suggested for each of them; these range from fiscal initiatives to encourage job-creation, through changes to personal taxation and measures to improve productivity and training, to the promotion of the interests of the unemployed. However, it is conceded that even the most enlightened economic measures will not be able to withstand selfish and destructive attitudes. The question of people's attitudes to each other and to economic choices is therefore addressed, with particular emphasis being placed on the role of the religious community in this regard. By way of Conclusion the statement points out that economic justice is demanded not just by the poor and by forthcoming generations, but by God. In striving for a just economy we are carrying forward Jesus' great task of bringing fullness of life to all people. / 2nd ed

The Overberg, incorporating the present-day districts of Swellendam, Caledon and Bredasdorp, forms a geographic microcosm in the south-western Cape. The area, with its Mediterranean climate and undulating hills of Bokkeveld shales and weathered Table Mountain Sandstone, is well adapted for arable and pastoral agriculture. Original settlement was by the Khoi who by 1710 had succumbed to cumulative disintegrative forces. They presented little resistance to the vanguard of white settlers who by 1710 were receiving land grants in the area. By 1838 the area was optimally settled for the extensive ranching of that time and pressure on the land was becoming acute. There was little scope for British immigrants to obtain land among the Dutch settlers. Grain farming offered little reward as the area was isolated from the Cape Town market by hazardous mountain ranges. The conversion of the indigenous hairy sheep to wool-bearing Merinos which occurred during the 1830s provided the area with an added income. Wool provided a product which modified Overberg agriculture from its quasi-subsistence form to commercial farming. The wool produced in the area was generally of a high quality and it commanded a consistent price on the world market, a factor which contributed to the financial stability of the area. The increased income from wool provided scope for unprecedented commercial activity. The new found wealth which was diffused among the white farmers raised their standard of living. Predial labour did not, however, experience commensurate material gains. The social and cultural milieu was not profoundly affected but material prosperity fostered greater political awareness among wool farmers, a factor which was to bolster Afrikaner national movements after 1870. / History / D. Litt. et Phil. (History)

Communities which have been characterised by migrancy for a long period of time, such as the Xhosa and the Italians considered in this paper, develop sets 6f terms which describe migrants. The Xhosa have varied criteria for their categories, e.g. amajoyini - those on contract to mainly the mining and construction industries; abafuduga - those who deliberately sell up and go elsewhere; amagoduka - those who intend to return home; imfiki - impoverished migrants from white owned farms. Italians tend to view the crossing of international boundaries as the essence of migration and classify their migrants by the state in which they work e.g. Inglesi, Americani, rather than by the more complex terminology of the Xhosa. Some terms are simply descriptions, others are categories with wider connotations, into which people place others and themselves. As far as possible we shall use the peoples' own categories, which define their relationships to "home", the region to which they migrate and to migrancy as a way of life, as these have important implications for what happens at home. / Digitised by Rhodes University Library on behalf of the Institute of Social and Economic Research (ISER)

The concern with the relevance of human rights to the socio-economic and political development in South Africa is of threefold account, namely human rights, socio-economic and political development, and South Africa. Human rights have been consistently applied as a common standard of achievement in the realisation that development cannot be implemented in pure economic terms only, but implies the 'duties of all people towards all other people. For rights only come into their own through practice, the interaction of socio-economic and political facts with values. The importance of the Universal Declaration of Human Rights of I 0 December 1948 is of primary account in this regard. This implies the right to development of all people as well as the classical meaning of equity. The main social function of human rights is to become essential ingredients in legal, political and social reality in each and every country. The socio-economic implementation of human rights in the entire world includes the facts and peculiarities of South Africa in the context of ethnic pluralism. This covers the unrealistic overtones of apartheid, the unabated pressure of the United Nations and the achievement of the new South Africa. There is a great difference between merely criticising and getting things done. An important issue is the sustainability of the RDP, with its emphasis on Mandela's linkage XI between human rights, the rule of law and economic prosperity. COSATU with its unrealistic trade unionism however, remains the chief stumbling block to the unfettered free market economies and investments which are required for genuine job creation. Short of this the RDP and GEAR, which have got off the ground, are in danger of collapse. It is recommended that the ANC should work towards a genuine multi-party democracy at a realistic level where honest criticism is respected. The universal implications of human rights require that people should not be protected overduly simply because they are black at the expense of others who simply happen to be white. Some people are not more equal than others merely by virtue of being white or black. / Political Science / D. Litt et Phil. (Politics)