The Reasons for Global Inequality - 1428 Words

Global Inequality Global Inequality has been and will remain to be an ever pressing issue of concern across many subjects and specifically that of economics. The industrial revolution and globalization are great catalysts to why some nations are so rich and others so poor as they allowed for competition and specialization. There are many other factors as to why certain nations are poor and others rich, arguably historical reasons, structural reasons, abundance of resources and fops, lack of diversification, political issues and systems, geographical issues and topology and the controversy of culturally related poverty due to social factors such as work ethics. Through the analysis of numerous factors, this essay will attempt to stem out†¦show more content†¦This is because a strong rule of law increases investments into that particular economy, a prime example would be Britain and its relatively safe and supportive environment for investing as property laws are well established compared to a country such as Mexico. Moreover, a strong rule of law means less tax evasion and thus better fiscal policy and control over the Economy which will allow it to conduct appropriate Keynesian policies and thus manage the economy appropriately. Aside from the socially constructed factors of politics, a country could be poor due to reasons beyond their control. Natural resources can be vital for a nation’s economic growth and its wealth, especially during the early stages of development. The Arab states have managed to completely transform their economies during the second half of the 20th Century due to the discovery of oil reserves. Exploiting Natural Resources will lead to higher domestic produce and thus higher growth. Exporting these natural resources can also lead to a favorable position in the current accounts under the Balance of Payments. Other natural factors could affect the state of the Economy, such as that of Geography and climate. Nations under the constant threat of natural disasters usually also suffer from Economic problems as production could be halted due to infrastructural andShow MoreRelatedA Theoretical Review Of Global Stratification913 Words   |  4 PagesTheoretical Review of Global Stratif ication Global stratification is defined as social inequality throughout the world. It is an unequal distribution of wealth and poverty, of resources and opportunities. Global stratification is much greater than social stratification in the United States or in any single nation and continues to increase. The poorest people in the United States have a much higher quality of life than most other people in the world. As a result of this global inequality, countries areRead MoreSo Much Inequality in Our World1677 Words   |  7 PagesGlobal Inequality Most likely every single person in the world is going though an inequality and suffering from it in the society that we are living in such as racial inequality, gender inequality, income inequality, global inequality, and etc. Even though there are more people today joining organizations or associations to stop inequality than before, social inequality is keep growing. We need to think about why inequality is keep growing and not getting batter as the time goes. Growing inequalityRead MoreEconomic Inequality Within The Global Economy801 Words   |  4 PagesEconomic inequality can be defined by the unequal access to economic resources, in the form of opportunities, wealth, capital, land, etc., which determine the individual’s or the group’s level of power. Generally speaking, individuals and groups with high access to resources have high levels of vertical and horizontal power, which in it turn generate more access to resources and power. The unequal access to economic resources is institutionalized within a society. Thus, economic inequality has farRead MoreGender Inequality : A Global Issue756 Words   |  4 PagesTheodore 12/05/16 Gender inequality: Economics Gender inequality is a global issue as no country has achieved gender parity. I chose this topic because I am a female and will soon be entering the work force and this information pertains to not only me, but to other females who are unaware. I think it is important that we stay informed, so that we can work together to solve this issue. I think gender inequality is an issue that should be addressed for the reason that it goes against the civilRead MoreGlobal Citizenship And The Rights Of Women920 Words   |  4 PagesGlobal Citizenship and the Rights of women Global Citizen A â€Å"Global citizen is someone who identifies with being part of an emerging world community and whose actions contribute to building this community’s values and practices.† (Kosmosjournal.org, 2016). Global citizens are all of us who identify with taking action against world issues. Global Citizenship (cosmopolitism) looks at us as needing to be patriotic to our nation-state, but also needing to put humanity and the greater good globally firstRead MoreAfrican Apartheid And Its Historical And Theoretical Context1430 Words   |  6 Pages The use of the term global apartheid has been on the rise when referring to the existing social, political and economic inequality on the global scale. It is based on the merging of concepts and practices from South-African apartheid alongside globalization. In this paper, we will consider the appropriateness of such term and whether it truly encompasses all aspects of global inequality. We will consider South-African apartheid alon g with its associated focus on race as well as globalization alongRead MoreGlobal Inequality711 Words   |  3 PagesGlobalization has caused a decline in global inequality because of the convergence of developing countries such as China and India with developed countries such as the US. Despite this trend, the inequality within individual countries has increased over the years mostly because of the increased inequality in the developed countries. Throughout this movie review I will go through why there is an increase in inequality within developed countries and why global inequality has decreased while incorporatingRead MoreIncome Inequality in the United States Essay788 Words   |  4 Pagesof equal opportunity. Levels of income inequality are higher than they have been in almost a century, the top one percent has a share of the national income of over 20 percent (Wilhelm). There are a variety of factors that influence income inequality, a few of which will be discussed in this paper. Rising income inequality is caused by differences in life expectancy, rapidly increases in the incomes of the top 5 percent, social trends, and shifts in the global economy. Variations in life expectancyRead MoreSummary of Industrial Convergence, Globalization, and the Persistence of the North-South Divide by Arrighi, G,. Silver, J, B,. and Brewer, D, B,. (2003)1418 Words   |  6 PagesIncome Inequality, Development and â€Å"Globalization†, the authors examine the theoretical framework of the paper. Firstly, the authors discuss income inequality between countries and highlight that debates on world income inequality do not completely address the persistence or non-persistence of the North-South divide issue. Thus, the paper addresses this. The authors state that in theory, the North-South divide could decline in significance even if extreme inter-country income inequality persistedRead MoreThe Effects Of Gender Inequality On India1604 Words   |  7 PagesGender Inequality in India Gender inequality in India has taken a toll on various aspects of everyday life. Unequal treatment of the sexes in India has determined one’s standing on the social hierarchy. It has also caused a sole gender to dominate the majority of power in government. It also has caused a single gender’s opinions to be unheard and completely disregarded. Unfortunately, India’s unequal treatment among genders has caused women to be more susceptible to diseases. Gender inequality in India