World’s Most Billionaires Per Capita

zimbabwe-dollar-inflation

The Reserve Bank of Zimbabwe has accomplished an impressive milestone. Thanks to Gideon Gono, the present Governor of the Reserve Bank and President Robert Mugabe, Zimbabwe now has the highest percentage of Billionaires per capita than any other country in the world. The billionaire ratio is even higher than a recent gathering of the Bugatti Owners Club. Ultra-wealth also attracts crime. However, Zimbabwe has also done an excellent job with crime. In fact, it is common place to see people walking down the street flashing their wealth by carrying hundreds of billions of Zimbabwean Dollars (ZWD) in open daylight. Analysts estimate that at the current pace, Zimbabwe will soon have the world’s highest concentration of Quadrillionaires. You listening Donald Trump?

Okay, okay… facetiousness aside, what’s happening in Zimbabwe is a sad textbook example of how social policy mismanagement can lead to a full economical collapse. The whole domino effect started back in 2000, when the government enacted policies focused on claiming land owned by white farmers and redistribute it among black farmers. As a result, food production and export dropped off drastically. This coupled with an 80-90% unemployment rate (and some other factors) led to an implosion of the economy. In November 2007, inflation was floating near 27,000 percent. The latest inflation estimate for July 2008 is at an unheard of 2.2 MILLION percent. We’ll see what August has in store for Zimbabwe.

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One Comment

  1. Anonymous
    Posted August 20, 2008 at 1:50 AM | Permalink

    Thanks to the article, Now there is more reason to comment than ever before! Everyone should participate. I am incorporating what your wrote to our project!

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