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Zuma and Maduro lack knowledge of knowhow

The modern-day heirs of South Africa and Venezuela's revolutionary movements have failed to grasp that capital, like the future, isn't what it used to be

South African President Jacob Zuma
South African President Jacob Zuma Photo: Getty Images

It has been a quarter-century since South Africa's apartheid regime ended, and 23 since the African National Congress took power. But, as President Jacob Zuma reported in his recent State of the Nation Address, the country's whites remain in control.

"White households earn at least five times more than black households," said Zuma, and "only 10% of the top 100 companies on the Johannesburg Stock Exchange are owned by black South Africans." Whites still represent 72% of top management. The Gini coefficient, a widely-used measure of inequality, shows no sign of falling and remains one of the highest in the world.

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