Kinda like Venezuela trying to enforce a minimum wage??
Officially, the SA gov’t will say that unemployment is around 27-percent. Most residents in SA laugh...suggesting it’s bogus data...and suggest that it’s closer to one-third of the country unemployed.
If a mere $1.45/hour will reduce inequality and stimulate economic growth, why not make it $20/hour then??
“Ramaphosa’s office said in a statement that while the national minimum wage will not end income inequality, it was a first step towards addressing the clamor for a living wage. “
a “living wage” is possible only when the productivity of a country justifies it ... mandating “living wages” is about as effective as outlawing gravity ...