Is South Africa’s economy in crisis — and, if so, what do we need to do? Bianca Capazorio asked some of our key thinkers for their opinions

IRAJ ABEDIAN: Economist and founder of Pan-African Capital Holdings

The economic crisis is not an event, rather a process, and has many shades. South Africa’s socioeconomic crisis is largely of its own making. Key contributors are government-driven policy confusion and instability. Successive policy pronouncements have created inconsistencies and contradictions.

FLOYD SHIVAMBU: EFF chief whip

South Africa’s economic crisis is defined by its structural inability to absorb the entirety of its workforce, hence crisis levels of unemployment and poverty. The solution is protected and massive industrial expansion, substituting unnecessary imports. This can only be enabled once there is state ownership, control and redistribution of key industrial inputs.

MARK HEYWOOD: Executive director Section27

If the purpose of an economy is to serve the wellbeing of its people, the South African economy is in crisis. However, an economic growth plan centred on fulfilling the constitutional duties of the government, particularly investing in quality healthcare and basic education, would create decent jobs, local spending power, a bigger domestic market and a more skilled and productive workforce.

DAVID MAYNIER: DA spokesman on finance

We are stuck in a low economic growth, high unemployment spiral that has killed 486 000 jobs so far in 2015. We have to become an investment destination by: increasing infrastructure investment, especially in the energy sector to ensure electricity supply; providing education and skills to job seekers; introducing labour-market flexibility by reforming job-crushing labour laws; creating incentives to employ people, especially young people; and by cutting red tape to make it easier to start businesses.