By Thabiso Thakali
His ability to connect the economic dots arguably crosses over into territory where most economists fear to tread - such as his recent claim that Eskom is lying to us.
Other predictions of his have been just as controversial, like his forecast that South Africa may be heading towards a recession.
Swamped by the media for his comments and analysis on economic issues, from hikes in interest rates to crime denting investor confidence, Schussler is highly sought-after. But, uncomfortable about selling himself, he has to be drawn into offering insight into his character.
"I suppose… it's a bit difficult… I'm an intellectual who was born with a little bit of mobility to change economic jargon into plain language," he muses with a frown.
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"I could never say the big words myself and that may be one thing people can credit me for," he adds, uncomfortable in the spotlight.
"I don't know if people understand me," he admits. "But the fact of the matter is that people are interested in economics… I think what they want to know is how everyday economics affects them."
Efficient Group economist Dawie Roodt describes Schussler as an economist who makes his field accessible to the person in the street.
"He realises the importance of people and he remains one of the few in this discipline who is an original thinker, with such [rare] talent."
After the release of the Business Confidence Index - which showed economic growth could dwindle to between 1% and 2% and might even dip into negative territory if the electricity crisis wasn't resolved - Schussler claimed: "It's becoming more and more obvious we might be entering a recession."
He says he drew a lot of criticism for this comment, but notes that as long as such criticism is based on fact, it is fair and acceptable. He says that if one is prepared to take "ego trips" in the media, one must be prepared to take the downside as well.
"I think we're lucky that South Africa is a learning and open society. Even if a politician doesn't like what I say, there will be someone who will like what I've stated."
Schussler also ruffled feathers when he stated that Eskom was still a legacy of apartheid.
"I said it in the sense that we haven't built any new power stations since the demise of apartheid, but that created the wrong impression on both sides of the spectrum. I think I could have been more sensitive, although it's important that, as a country, we get beyond race. We still focus a lot on race."
Schussler recently claimed the utility is lying to consumers to convince us and the national regulator of the need to implement an astronomical 60% increase in rates. He said Eskom knew the claim was a lie because it sold a third of its electricity at below the cost of production.
Schussler (46) has a master's degree in economics from the University of Johannesburg. He has been invited to give presentations on economic growth in South Africa and abroad, and is extensively quoted in foreign and local media.
Growing up in the affluent suburb of Bonaero Park in Ekurhuleni, Schussler imagined himself as "a magic lawyer who was going to save society".
The Schusslers emigrated from Germany in 1960s. His father was an engineer and his mother a chemical biologist.
At university he admired Paul Krugman, the renowned American economist.
"Most of the people I looked up to outside my family were economists or musicians like Bob Dylan," he says.
Schussler, who now lives in Quellerina, west of Joburg, with his wife Grethe, their seven-month-old son Rudi and their dogs Spitzy and Fuzzy Logic, is a music fanatic.
"I love my music and I have a collection of well over a thousand CDs. My wife has a classical background and I have a folk and rock background, so it's a very big mixture of music."
Roodt adds: "We all know Schussler as an economist, but very few of us know that there is much more to his public face than just an economist. He has an incredible knowledge of music, and he's a party animal too."
When he isn't providing soundbites for the media or making presentations to chambers of commerce, Schussler spends time relaxing and reading crime novels.
He runs his own company, Economists.co.za, and is also an affiliate of Tlotlisa Securities (T-sec).
Schussler says he is delighted that economics is becoming a much broader science in South Africa and that there is a need for commentators like him.
"I think it's going to be very difficult economically in South Africa in the short term than it has been in the past five years, but in the longer run, the country has a rosy future. The problem is that people get caught up in the immediacy of things like crime and the electricity crisis."
Schussler, however, maintains that the Eskom debacle has certainly downgraded the country in certain industries, particularly steel.
"The other problem that has been with us for a long time is the element of Africa pessimism in the world. But it doesn't mean that investors will not be interested in South Africa or Africa," he says.
- This article was originally published on page 15 of The Star on May 10, 2008
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