Law, policies pushing equality fail to narrow gap, Thomas Piketty-backed World Inequality Lab study shows
More than a quarter century of democratic rule has seen the growth of a black middle class and a black business and political eliteThe social architecture formed over more than three centuries of white rule has maintained SA’s position as the world’s most unequal society, according to the Thomas Piketty-backed World Inequality Lab.
“There is no evidence that wealth inequality has decreased since the end of apartheid,” the group said. “Asset allocations before 1993 still continue to shape wealth inequality.” Discontent with economic prospects and an unemployment rate of more than 30% has stoked unrest in SA. That’s limited expansion and curtailed investment.
“SA’s successive governments endorsed several ambitious socioeconomic policy frameworks whose primary objectives consistently included reducing economic inequality inherited from colonial and apartheid regimes,” it said. “Yet, wealth inequality has remained remarkably stable.”
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