Arjo Klamer, a value-based economy scholar and one of the founding fathers of the concept, defines it as an economic system that integrates ethical, social, environmental, and human values into economic decision-making and production, aiming to create sustainable prosperity and societal well-being rather than focusing solely on financial profit.
In the SA context, we often hear about the Competition Commissions market inquiries when they are launched and when their findings are released. What receives less attention is what happens afterwards. Yet the real test of any inquiry is not only the quality of its report but also whether its recommendations are implemented and whether they make a tangible difference in the market.
This is where monitoring and evaluation become critical. The commission has conducted market inquiries for nearly two decades, investigating sectors where competition may be restricted, distorted or working poorly for consumers and smaller businesses. These inquiries identify barriers to entry, examine market concentration and recommend practical solutions that promote competition, innovation and economic inclusion.
