Host Thobani Khumalo sits down with Dr. Seeraj Mohamed (Deputy Director for Economics, South African Parliamentary Budget Office; Adjunct Professor, UWC) to unpack what sets heterodox/decolonial economics apart from the mainstream. Dr. Mohamed traces the shift from political economy’s focus on production, reproduction, and distribution to neoclassical models centred on markets and “rational” agents—showing what gets left out: unpaid care work, environmental costs, power, institutions, and collective dynamics (think Ubuntu) that shape real economies.

The discussion then turns to South Africa’s macro policy since 1994—from GEAR and inflation targeting to capital-account liberalisation—and why headline GDP growth can mask speculative bubbles, inequality, and jobless outcomes. Dr. Mohamed argues for policy that prioritises productive investment, employment, and social capability, with the state using fiscal and financial tools alongside monetary policy to build an inclusive, resilient economy.