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In South Africa, this idea is known as the first (capitalist, high-profit industries) and second (underdeveloped) economies. [7] The first economy contributes to the majority of South Africa's wealth and is integrated within the world economy. The second economy consists of low-skilled and outdated jobs.
In 2020, South Africa's GINI coefficient was 62.73, the highest of any country, indicating a high-level of income inequality. [5] The top 20% of South Africa's population holds 70% of all income earned by the country, with this group consisting mainly of White South Africans. [6]
According to the World Bank, South Africa is the most economically unequal country in the world. [14] The difference between the wealthy and the poor in South Africa has been increasing steadily since the end of apartheid in 1994, and this inequality is closely linked to racial divisions in society. The reason for South Africa's economic ...
JOHANNESBURG (AP) — Perhaps nowhere in today's South Africa is the country's inequality on more dramatic display than in the neighboring Johannesburg suburbs of Sandton and Alexandra.
The so-called land question has been a decades-long dilemma for South Africa. Apartheid, dismantled in the 1990s, left a deep-seeded legacy of land inequality after centuries of policies pushed ...
When coronavirus patients started arriving at South Africa's government-run Thelle Mogoerane Hospital, workers scrambled to set up isolation wards to treat them. "There's no space anywhere," nurse ...
When the African National Congress (ANC) came to power in 1994, the new government's priorities included redressing apartheid's legacy of economic exclusion. Under apartheid, legislation and practice had restricted the access of non-whites to job opportunities, capital, business and property ownership, and other forms of economic advancement, leaving vast racial inequalities in wealth and ...
it is the study of upward socio-economic change in status achievable by South Africans from generation to generation. As South Africa saw the end of political apartheid, the country experienced movement in the demographics of social class. Many native South Africans were able to get high paying jobs and raise themselves out of poverty. [1]