Tag: economic inequality

In 2018, the world watched as 82 per cent of all wealth created was claimed by the top 1 per cent of the global population. The bottom 50 per cent of humanity saw no increase at all. While one new billionaire was created every two days, one in every four South Africans were living on less than R18 per day – not enough to buy a loaf of bread.

A critical look at how Bill Gates uses his wealth and power through the Gates Foundation to advance his own agenda and erode democratic institutions in the process. How much money should one man be allowed to amass? Would your answer change if you knew he was a saint?

With over 13 years of working in the Broad-Based Black Economic Empowerment (B-BBEE) space, we have witnessed an evolving landscape of transformation. From verifying compliance to fostering inclusivity, his path has taken him from corporate corridors to government initiatives.

Most African business leaders are more optimistic about the strength of the global economy and their organisations’ ability to grow revenues in the next 12 months than they were a year ago. Although CEOs’ confidence in their own company’s revenue prospects has rebounded, they are anxious, too: policy uncertainty, tax policy, cyber threats and over-regulation are keeping them awake at night.

In markets there is inequality of wealth because there is inequality of production. Some people produce more than other people. Not all labour is equally valuable. Structural inequality relies on politics. The state may put roadblocks in front of some people in order to benefit others. This sort of economic inequality relies more on political pull than on productivity.

The ‘potential’ of recent gas finds has given rise to false claims that gas will generate economic prosperity for the country. The reality is that it will be at least a decade, possibly two, before we see any significant impact. In the meantime, the climate impacts will be huge, and we will lock ourselves in to a new fossil fuel system, which is expensive and unnecessary.

South Africa is limp wristed from unclear definitions and objectives that are used at different moments to drive ambiguous agendas. South Africa lacks a clear definition for transformation, and thus every other organ of change abdicates their role in shaping the country in a progressive direction.

While the world has seen a decline in absolute poverty, it has also seen a simultaneous rise in economic inequality. This is the case in all of the major economies as well as in emerging ones, including South Africa.