South Africa has always been regarded as one of the most unequal society in the world, obviously most of this is attributed to the injustices of the past.
In that regard l honestly think, well, simply put, as people get richer, they invest more, spend less.
Individually, this means nothing. On a larger scale, it means that the more income is unequal, the more wealth is unequal, the greater the ratio of investment to consumer demand will be.
The problem is, it only takes so much investment to satisfy consumer demand, and investment only creates its own demand under narrow, optimal circumstances in perfectly competitive markets with wages as high as they can conceivably get.
One lady recently brought this matter to the spotlight and evoked mixed emotions from many after she posted this.👇🏿
A lot of people responded to the post as you will see below in the comments box, but l must say the comments are disturbing as most of the people choose to ignore the reality of our situation and rather opt to blame the situation on apartheid or our fellow Africans from other countries.
I personally think that there is no inequality.
All doctors, CEOs, engineers, and labourers get paid virtually the same irrespective of colour or race. All employed people have a fine standard of living and are secure in their employment.
Poverty however is prevalent amongst the unemployed. That’s because they don’t earn anything, since they don’t have paying jobs. If you don’t produce anything you don’t get to consume anything. First law of the Universe.
Why are most unemployed people African? thereby creating the impression of inequality?It's all because they have no marketable skills due to a lot of underlying factors.
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