The Economics of Family

Resilience and economic success are linked. Family economic success improves self-sufficiency through expanded opportunities to work, earn a living wage that provides for the basic needs of the family. It also helps to build an asset base that will grow the family over time - in fact will grow family resilience over generations. This is one of the great tragedies of South Africa - families have been made poor over many generations by legislated and systematic discrimination.

Owning and maintaining a home and being financially secure into old age becomes part of a secure family over generations. Thus financial security must link macroeconomics with household budgeting and family financial planning. The role of the family in society is not only about the care economy, it is also about economic development. Strengthened family is fundamental to the hard business of an economically skilled and productive society.


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