It’s familiar news by now. According to Oxfam, the richest 1% now have more wealth than the rest of the world’s population combined. Global inequality is worse than at any time since the 19th century. For most people, this is all they know about global inequality. But Oxfam’s wealth figures don’t quite tell the whole […]
Gini coefficient
Posted inBusiness, Equality, News/Politics
So what is income inequality? How is it measured?
Income inequality in Africa is wide and persistent, particularly in South Africa. Will the country’s proposed national minimum wage lessen it? South Africa suffers from a large income gap between rich and poor. A 2013 survey by the Organisation for Economic Co-operation and Development suggested that “no progress towards income equality has been made since […]
Posted inBusiness
An open letter to Minister Pravin Gordhan
By Ian Dewar Minister Gordhan, I write to you because I find myself deeply disappointed by the centralist orthodoxy of your budget speech. I live in a small rural town where 25.9% of the local workforce is unemployed and 45.9% of local households earn less than R1600 per month. This means that our local Gini […]