The past disadvantaged have found appreciation through redistribution in South Africa but is it growing or destroying the country. Redistribution is recognised as the transfer of wealth, income or property from some individuals to others caused by the social mechanism such as tax laws and monetary policy. Redistribution is crucial in South Africa because in the past years before 1994 black people were disadvantaged because the government did not allocate appropriate resources to the as the country was under apartheid laws, So the new government voted into parliament in 1994 introduced policies such as the black economic empowerment which empowered black people to be given a chance in their jobs so that they can also be executives and be entrepreneurs in their workplace.
Redistribution is one of the important policies since 1994 that the government emphisised on, this essay is going to explain the advantages and disadvantages of redistribution in South Africa. Many people this policy has destroyed the country as people are lazy to do anything by themselves.
Importance of Redistribution
Redistribution has encouraged many black people to depend on themselves as it gives them opportunities to get out of poverty. Redistribution is important in a country because it is good for both the poor and the rich according to (Norman, T. 2008) because of economic ineffiency goods are produced for both the rich and the poor, as the rich can only get rich by using the poor as they are the ones that are willing to work and buy the products that they produce, you will never see a rich person working for another rich person as they do not see the need to work because of this the poor society in South Africa is now protected by laws that forces the rich to pay a certain income at a certain time in exchange with the labour of the poor person. Redistribution of wealth is good because it contributes to stability and peace this is proven in South Africa during the apartheid.
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Thoughtz on Budget Speech. (2018, Sep 02). Retrieved from https://graduateway.com/thoughtz-on-budget-speech/