I fit into the middle group, which (to be honest) is a fairly sizable group! In South Africa, like most other countries, we have a huge difference in wealth between the poorest and the richest. The good thing though is that it seems (to me at least) that the curve is flattening slightly. While we still have the very rich, and very poor, it seems like the wealth in the middle group has (over the last 10 or 20 years) spread out a little.
Or, fellow South Africans, is that my perception only?
Jack
We have a lot of static in the United States about “the 1%” — i.e., the very wealthy — and “the 99%” — i.e., everyone else. The implication is that the 99% are broke and that the 1% have been siphoning off all the wealth. My own belief is similar to what you describe about South Africa, namely, the middle class has been spreading out and is a very large part of our society, even if the recent economic slowdown has hurt.
Nice image.
Paul
Post authorThanks for the compliment Jack. :)
I think the 1 vs 99% issue and the US economic predicament is different to South Africa’s situation, but as you say, it seems our countries are experiencing similar outcomes. I was chatting with Kerry-Anne today about the Eurozone and what a failure that’s been – and how we’re so glad that South Africa’s had the sense to not contemplate an African Dollar!