Globalization and inequality short essay

Though it may simply mean global interconnectedness, it includes a number of interlinked and complex economic, technological, cultural, environmental and political processes. The concept of globalisation is closely connected to recent changes in the world economy. The entire industrialised world was hit by an economic crisis in the s. Profits fell sharply and capitalist companies were forced to expand the international nature of their production and trade.

Globalization and inequality short essay

Globalization and Social Inequality Introduction Social inequality is an issue that is much debated today within the social sciences, as well as other disciplines. Although very few would deny that social inequality exists and has always existed in human societies, it is not always clear through what mechanisms it manifests itself, along what lines it progresses, and how we can make life better for those affected by global inequalities.

The question remains whether or not the world that we live in today is more equal than what people have experienced in the past. In many cases, it has created new patterns of inequality, as well as reinforced old ones. The purpose of this paper is to investigate some of the effects of globalization and critically analyse them.

I will argue that currently we do not live in a more equal world and neither are we moving towards greater equality. Rather, I argue that, through globalization, inequalities are exacerbated due to capitalism and the unequal flow of markets. This paper will look at how inequalities have evolved over the last two hundred years, why they have occurred, and how the pattern of inequality looks like today.

Kaplinskyp 28 and Jolly note that as early aseconomists such as Adam Smith became preoccupied with the issue of poverty and its consequences on inequality. During the 18th and the 19th century in England it was well-known that for every handful of rich aristocrats there were hundreds or even thousands of poor people.

Globalization and inequality short essay

With the advance of industrialization, poverty only deepened Jolly Karl Marx illustrated the problem perfectly by outlining the issue of the bourgeoisie owning the means of production, while workers sell their labour for minimal wages.

Petras and Veltmeyerp also stress that historically, a minority ruling class have used coercion and social institutions to control exploited people. Until the present day, this situation has not changed very much.

Moreover, during the past decades, the disparities between the global North and South have become more and more evident, partly due to globalization. The movement of capital and trading agreements have mostly benefitted the developed countries, while the developing ones are forced to create economies that cater to the needs of the West.

Moreover, even wealthy countries, such as the U. The reality is that we live in an unequal world. There is an abundance of social issues that are caused by widespread inequality.

Discrimination today manifests itself through the lines of class, gender, race, age, nationality, and other factors. Due to length limitations, this paper mostly focuses on economic inequalities. These are especially poignant when we look at the way people live in underdeveloped countries.

This is a direct consequence of colonialism and the quest of the Western world to expand and develop their economic system. However, the expansion of the markets rewards only those who have more assets, such as financial and human capital Birdsallp 3.

Also, poor nations cannot attract investment and diversification, without a stable middle class and economic institutions.

Consequently, the price of their exports declines and they fail to grow Birdsallp 3.

Globalization and inequality short essay

This is just an example of how globalization reinforces inequality. If markets are let to operate freely, as they do today, the world will become more unequal.

Underdeveloped countries have not become more equal since interaction with the West has intensified. It is evident then, that the path that is nowadays advocated by many here in the Western world, does not serve the purpose of a more equal world.

On the contrary, it exacerbates global inequalities. However, the main cause might be the capitalist system that has spread internationally, oftentimes to the benefit of few and the exploitation of many.economy was expanding, highlights "a poisonous mix of inequality and sluggish wages" as the force underlying a globalization backlash in the United States as well as Japan and the European Union.

The process by which the lives of all people around the planet become increasingly interconnected in economic, cultural, political, and environmental terms, along with our awareness of such interconnections is known as globalization (Appelbaum, ).

essay about globalization for inequality> It is without doubt that globalization promotes the overall growth of the world economy, but the global distribution of economic interests is out of proportion. One has to accept that large opportunities have been created to the developing countries during the globalization process, and most of those countries take advantage of them.

The process by which the lives of all people around the planet become increasingly interconnected in economic, cultural, political, and environmental terms, along with our awareness of such interconnections is known as globalization (Appelbaum, ).

/5(18). Globalization has caused the conditions of inequality and discrimination to deteriorate. Women in society have seen a significant impact as a result of globalization. A demand for cheap labor, combined with a loss of jobs held by men which reduced the customary family income has lead to an increase is the number of women in the labor market.

Indeed, globalization is the most popular trend in international economics. Increasing integration of world markets and exchanges of information and technology are definitely expected to help the least developed nations, thereby bridging the gap between the haves and the have-nots.

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