Wealth distribution in the post apartheid South Africa: a case study of the documentary “I blew it” on income inequality and wealth distribution: is this a reality or misnomer?

Abstract

The dawn of democracy led to the abolition of de jure discriminatory laws and hopes of a more inclusive economy in South Africa. The study proposes the use of the inter-connectedness of the Social Capital Theory (SCT) and the Human Capital Theory (HCT) through a linear causal correlation between a nexus of income, lifestyle, and financial management knowledge This study utilises a documentary analysis I blew it which is a reality show enjoyed by most South African viewers. This is a unique contribution as this is an unchartered territory which has not been traversed previously. A case study was adopted for examining a phenomenon. The principal approach of the research is the documentary research method. The researcher employed the observation method where participants were observed through a video and all the four aspects were followed to ensure a scientific rigor. The meta-theory of constructivism was adopted as one other methodology for this study because it is based on observation and scientific study. The analysis and interpretation of a documentary series “I blew it” is executed. The score indicated zero to all the exhibits in terms of assets accumulated. A lot of scores are evidenced on the lifestyle construct which illustrates where most of the finances were spent. It is evident that the exhibits lack financial management skills and knowledge. They all scored zero on financial management knowledge variables. It is apparent that indeed the majority in our society lack financial management knowledge. This study was able to show a relationship between income, lifestyle, and financial management knowledge. It can be scientifically confirmed that most South African blacks lack financial management skills which should be remedied through training courses. The financial management knowledge and skills could have a potential in improving the socio-economic standards, alleviating poverty, and contributing towards an inclusive economy.