The World Bank recently published a report, Overcoming Poverty and Inequality in SA, that contains some extremely worrying data. One of the findings is that more than half of the population are poor, and poverty increased between 2011 and 2015. Equally concerning is that "SA is not only the most unequal country in the world but … inequality has increased since the end of apartheid in 1994". This finding is based on an analysis of consumption expenditure, which indicates a Gini coefficient of 0.63 in 2015, "the highest in the world and an increase since 1994". The report goes further in drawing attention to inequalities of wealth, which are even worse than those based on income. Some estimate that the Gini for wealth may be as high as 0.93. In any case, if wealth inequality is compared worldwide, SA clearly beats all comers. What the report does not do is explain why inequality is so pronounced. Is it because the majority of our people are less skilled than in other countries? Less d...
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