Answer to Question #237024 in Microeconomics for Rethabile

Question

Finally, in light of the unique socio-economic challenges facing the country, provide a few recommendations on how the South African government can best manage the push towards the fourth industrial revolution, so as to improve the employment of labour in the economy whilst subsequently providing a more inclusive and equitable economic structure. 

Answer 1

South African government should concentrate on creating jobs, improving infrastructure and encouraging innovations. Current world is best for entrepreneurship which creates more opportunities and expands the economy of a country. When the government encourages innovations, the rate of unemployment will decrease, which will help the country gain an equitable and inclusive economic structure.