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A new report from Oxfam South Africa shows how the average CEO (white, male) takes home up to 461 black women from the bottom 10 percent of income.
The South African branch of the global NGO Oxfam has published a report revealing that South Africa is the most unequal country in the world.
The report, titled “Regaining Power: Womxn’s Income and Job Inequality in South Africa,” shows how the average CEO (white, male) takes home up to 461 black women from the bottom 10 percent of earners. (The term womxn is used, especially in intersectional feminism, as an alternative spelling for woman to avoid the suggestion of perceived sexism in male and male sequences, and to include trans and non-binary women. Source: dictionary.com)
Inequality in the labor market is central to stubborn inequality of gender, race, income and wealth.
He adds that existing government policies have failed to reduce inequality because macroeconomic policies have entrenched rather than reduced the dominance of a handful of conglomerates based on extractive industries and energy.
This skewed industrial structure, established during apartheid, has led to a decline in manufacturing, rising unemployment, asset price inflation, and investment volatility in the era of financialization, while also displacing economic growth. capacity of the informal sector to absorb unemployment.
According to Oxfam, addressing the inequality crisis in South Africa must therefore go well beyond the labor market reforms, skills development policies and micro-support for the informal sector that have been advocated by mainstream economists.
Long-term and socially sustainable income distributions would require a radical transformation of the economy towards more labor-intensive linked sectors that serve the needs of the population, for example, through a developmental welfare state that encompasses the health, education and other social needs, rather than profit and capital expatriation imperatives.
Specific policies to reduce labor market inequality, such as a living wage, an income ceiling of no more than 10% of the income of the lowest paid worker in the company and making workplaces safe for women, should be based on a macroeconomic policy that is reoriented. of the ‘Mineral Energy Complex’ and the expansion of the financial sector itself, towards an industrial policy aimed at promoting sustainable and equitable economic development.
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