About UsReforming The Monetary and Banking Systems & The Macroeconomic Policy Framework
Who We Are
Firstsource Money is a non-partisan not-for-profit organisation dedicated to public service. We are an economic policy research and advocacy group seeking to reform our current monetary and banking systems and the macroeconomic framework that are at the centre of our failed economic system and the resultant social-economic and developmental challenges that confront South Africa and Africa as a whole
Purpose (Why We Exist)
We exist to provide viable economic policy solutions for dealing with South Africa and Africa’s monumental developmental challenges, by reforming the monetary and banking systems and the macroeconomic framework that undergird our failed economic system. The outcomes of our current failed policies are unambiguous : inequality (the worst in the world); unemployment (one of the highest in the world); and poverty (one of the worst), high cost living and high cost of dong business.
What Is The Problem/Challenge?
South Africa and its neighbours, along with the rest of the continent, are confronted with a range of intractable social and economic challenges, which have proven unresponsive to various policy interventions for decades.
At the centre of our policy failure to deal with a myriad developmental challenges are a development paradigm and macroeconomic policy framework that are not only inconsistent with the nation and region’s goals of achieving an egalitarian society, but are at permanent tension with the ideals of the Reconstruction & Development Programme and subsequent policy goals as articulated by the ANC Government, since President Mandela to-date (2018)
South Africa and Africa’s development models and macroeconomic policy frameworks are flawed in two critically related but analytically distinct aspects: money and banking. Flaws are in their conception of what money and banking are and the macroeconomic role of both money and banking. With a flawed conception of money and banking and their macroeconomic role, the accompanying institutional design becomes itself flawed and thus incapable of delivering optimal desired outcomes for the nation.
In light of the above challenges, Firstsource Money was created with a view to offering optimal policy solutions, grounded on empirically sound evidence. Therefore the reform of both money and banking is central to any reform at a macroeconomic level.
The current monetary and banking systems are at the centre of our present poor macroeconomic performance and related developmental inequities.
How We Engage The Challenges?
In order to render an appropriate set of policy responses and system changes capable of comprehensively addressing the challenges, we do the following:
- Research in the profoundly critical areas of money, banking and macroeconomics;
- Build a domestic network of skilled & knowledgeable individuals/firms and collaborate internationally, to campaign for change; and
- Influence policy and decision makers in the country and continent.
- A democratic banking and monetary system equitably serving the public
- A macroeconomic framework capable of yielding a stable, sustainable economic environment that results in a prosperous egalitarian society
The transformation of Southern Africa’s monetary and banking systems along with macroeconomic policies with a view to effectively responding to the region’s social-economic and developmental challenges.
To democratise money and banking systems so as to economically and ecologically serve the public interests in a sustainable way.
Ms Nisha Naidoo Dr Yaj Chetty Mr Redge Nkosi Prof Joseph Huber (Dr)