OIL RICHES - FOR SOME

"Angola is gushing oil, pumping about 2 million barrels a day, more than any other African country except Nigeria. The International Monetary Fund projects a 24 percent economic growth this year — one of the fastest rates in the world. The government is taking in two and a half times as much money as it did three years ago. But Angolans, by many indications, remain as poor as ever. The poverty rate is a matter of debate: the government claims a 12 percent drop in the past five years; analysts for the Catholic University of Angola’s research centre say two in three Angolans still live on $2 or less a day, the same percentage as in 2002. Still, no one disputes that most Angolans face appalling living conditions, sky-high infant mortality rates, dirty water, illiteracy and a host of other ills." (New York Times, 14 October)
Inside capitalism the whole purpose of wealth production is to make profits for the owners. Some have to live on less than $2 a day while immense fortunes are enjoyed by the capitalist class. That is how capitalism works. RD