Question

Briefly discuss open market and moral suasion in promoting growth and development in South Africa

Answer 1

Explanation:

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Answer 2

Explanation:

Moral suasion is an appeal to morality, in order to influence or change behavior. A famous example is the attempt by William Lloyd Garrison and his American Anti-Slavery Society to end slavery in the United States by using moral suasion. In economics, moral suasion is more specifically defined as "the attempt to coerce private economic activity via governmental exhortation in directions not already defined or dictated by existing statute law".The 'moral' aspect comes from the pressure for 'moral responsibility' to operate in a way that is consistent with furthering the good of the economy. Moral suasion in this narrower sense is also sometimes known as jawboning.