APRIL 2024 MAGAZINE

Inflation has become a scary term not only for ordinary people but also for many confused professional economists. However, inflation is actually not only an inevitable fundamental element in the market economy, but also a key to understand many important economic phenomena that have been occurring for decades or even centuries around the world. It implements mechanism of redistributing wealth in a market and around the world.

The U.N.’s original definition of the term has been corrupted, and the current U.N. iteration (in a set of 17 Development Goals) is an overreach.  Either way it’s failing.   What is to be done? This currently fashionable concept first arose in the 1980s.  A U.N. report stressed that it should be about basic needs.  Our current emphasis on “growth” and increased “wealth” is unsustainable. I believe we must return to the original 1987 U.N. definition, which focused on our basic needs, and make it a global priority going forward.

Kutlwano Hutamo is an entrepreneur whose motivation and goal is to contribute towards the reduction of youth unemployment. Her passion is to share IP and business management knowledge via her YouTube Channel with people that ordinarily do not have access. She believes that small businesses in South Africa can play a significant role in reducing the high youth unemployment figures.