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The World Bank calls South Africa “the most unequal country in the world by any measure”. Inequality of consumption has increased under the ANC government to a huge gini ratio of 0.63. Inequality in wealth is even higher: the richest 10% of the population held around 71% of net wealth in 2015, while the bottom 60% held just 7%. Furthermore, intergenerational mobility is low, meaning inequalities are passed down from generation to generation with little change over time. Ramaphosa encapsulates the country’s failure to tackle inequality at its root. He is a wealthy tycoon, part of a narrow black business elite that has been forged by ANC policies.
https://thenextrecession.wordpress.com/2019/05/07/south-africa-the-dashing-of-a-dream/ _________________________________________________________ Full posting guidelines at: http://www.marxmail.org/sub.htm Set your options at: https://lists.csbs.utah.edu/options/marxism/archive%40mail-archive.com
