Introduction
The wealth gap phenomenon between the rich and the poor has become evident over the past decade (…). Decade after decade, governments and international organisations have failed to reduce poverty, nor have they been able to help Africa generate growth and basic infrastructure. The gap between the rich and poor generally refers to the cross sectional distribution of income or wealth at any particular time or to the lifetime income and wealth over a longer period of time among individuals, groups or states (Peston, 2010).
Inequality is caused by mechanisms of exploitation, opportunity hoarding, emulation, adaptation and categorical discrimination across racial lines (Tilly, 2004). The growing gap between the rich and the poor involves many intricate that for the most part cannot be solved through a narrow economic focus. Instead, intellectuals on the subject unanimously agree on the use of broad strategies that can comprehensively tackle the wealth gap dilemma. What this means is that to overcome …show more content…
Current Statistics
3. Causes of wide wealth gap in Africa
The gap in wealth and income in Africa exist due to many reasons. This section will analyse them and develop the trends in such causes.
3.1 Economic Discrimination and corruption.
African countries such as Namibia in particular share a history of marginalized development due to colonialization. It is only in the last half of the 21st century that most African countries became independent and installed their own governments. These governments are young and inexperienced, were largely controlled, even after independence, through aid-policy and biased trade agreement imposed by the developed countries. These agreements provided leeway to cage western corporations to only extract African resources without effectively uplifting the economies or standard of living in the communities they operate in. large multinational companies that extract these resources may pay local authorities to avoid paying
The wealth gap phenomenon between the rich and the poor has become evident over the past decade (…). Decade after decade, governments and international organisations have failed to reduce poverty, nor have they been able to help Africa generate growth and basic infrastructure. The gap between the rich and poor generally refers to the cross sectional distribution of income or wealth at any particular time or to the lifetime income and wealth over a longer period of time among individuals, groups or states (Peston, 2010).
Inequality is caused by mechanisms of exploitation, opportunity hoarding, emulation, adaptation and categorical discrimination across racial lines (Tilly, 2004). The growing gap between the rich and the poor involves many intricate that for the most part cannot be solved through a narrow economic focus. Instead, intellectuals on the subject unanimously agree on the use of broad strategies that can comprehensively tackle the wealth gap dilemma. What this means is that to overcome …show more content…
Current Statistics
3. Causes of wide wealth gap in Africa
The gap in wealth and income in Africa exist due to many reasons. This section will analyse them and develop the trends in such causes.
3.1 Economic Discrimination and corruption.
African countries such as Namibia in particular share a history of marginalized development due to colonialization. It is only in the last half of the 21st century that most African countries became independent and installed their own governments. These governments are young and inexperienced, were largely controlled, even after independence, through aid-policy and biased trade agreement imposed by the developed countries. These agreements provided leeway to cage western corporations to only extract African resources without effectively uplifting the economies or standard of living in the communities they operate in. large multinational companies that extract these resources may pay local authorities to avoid paying