FACTORS LEADING TO THE INCREASE IN THE GAP BETWEEN RICH AND POOR NATIONS DUE TO GLOBALIZATION INTERNATIONAL INEQUALITY Inequality must be defined and be able to be measured so that comparisons can be made between rich and poor countries. Once the causes are determined‚ the effects of globalization can be evaluated and be measured. The World Bank defines inequality as the disparity of income and standard of living among nations and their citizens (Birdsall‚ 2002) The income gap that exists
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regardless of their wealth and social standings. Yet‚ in reality‚ societies have experienced economical inequalities due to pay scales‚ tax brackets‚ and education level. A research study on 23 developed countries and 50 states of the US has shown that countries with higher degree of inequality tend to have higher rates of health‚ social problems and lower rates of social welfare. To resolve such inequality‚ the U.S government has consistently intervened by alleviating poverty and redistributing income
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only grown. The map of the world below‚ from the United Nations Development Programme based on the Gini coefficient clearly shows the preponderance of wealth and the inequality that exists. ‘The Gini coefficient is a measure of income inequality that ranges between 0‚ indicating perfect equality‚ and 1‚ indicating complete inequality.’ (UNDP‚ 2003: 39) The report continues to note that the ‘richest 5% of the world’s people receive 114 times the income of the poorest 5%. The richest 1% receive as
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India. Photo: Tom Pietrasik/Oxfam WORKING FOR THE FEW Political capture and economic inequality Economic inequality is rapidly increasing in the majority of countries. The wealth of the world is divided in two: almost half going to the richest one percent; the other half to the remaining 99 percent. The World Economic Forum has identified this as a major risk to human progress. Extreme economic inequality and political capture are too often interdependent. Left unchecked‚ political institutions
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In his car‚ traversing through his hometown of Westlake‚ Louisiana‚ Mayor Hardey has implemented all of the policies that a Republican could ask for: he has invested immense amounts of money towards foreign oil companies like Sasol‚ he did not implement heavy taxes‚ he has worked towards deregulation of these oil companies‚ and as a result‚ he was worked towards the expansion of industry‚ in hopes for a promise that their town and their State as whole‚ will become prosperous and wealthy. Despite
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The United States has one of the world’s largest economy. The GDP is valued at $17.914 trillion dollars! (World Bank)2 So how can one of the world’s largest economies belong to a country that has an increasing gap between rich and poor? Simple‚ the way it is run! The US government has lost control of and has virtually stopped regulating our economy. We have allowed our jobs to be outsourced in the name of profit. Politicians have allowed big business to run not only our economy‚ but our government
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to retaliate‚ people began what is called the Occupy Wall Street movement‚ whose aim was to be able to stop the ruthless and selfish profit making mechanism of financial giants. For the same‚ a protest was held which showed that there is income inequality in the US and these companies as well as the government‚ while taking this step‚ has ignored the majority of the society and concentrated only on the affluent minority. In the on-going process‚ many means of showing ones dislike and anger have been
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WALL STREET Abstract The Occupy Wall Street movement is based on utilitarian theory. They believe it is only fair for everything to be done for the greater good of all. As long as politicians continue with the ways of Reaganomics‚ the income inequality and wealth distribution in the United States will continue to worsen. This responsibility lies with every American‚ but it is especially true for politicians. The government needs to change economic ways before the American economic model influences
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Differences and Inequality Difference according to The Oxford Dictionary* is something distinct‚ separate or not the same. When things are different‚ they are distinguishable in nature‚ form or quality. Once you understand the meaning of the word ‘difference’ you can then begin to explain how it applies to social differences. Social differences may be seen as differences in age‚ ethnicity‚ religion‚ race and physical abilities/disabilities. Differences‚ whether real or perceived‚ have a direct
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relationship between low income‚ income inequality and domestic violence. The author uses GNP as indicator of average income. The research and analysis of data show that countries with low GNP have more chances to make domestic happened. Beyond of this‚ it uses indicators of people’s standards of justice and legitimacy. The conclusion exactly point out that income inequality in income will cause people to make a domestic violence. Weede‚ E. (1981). Income inequality‚ average income‚ and domestic violence
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