Economic Inequality Analysis

In today’s societies the growing gap between rich and poor countrie continues to grow. Nowadays, there are a lot of people that suffer from poverty all over the world, while the rich become richer and richer the the poor become poorer and poorer.

Economic inequality, known as the gap between the rich and the poor, income inequality, or wealth disparity, consists of discrepancy in the income and wealth disribution. In this essay I em going to explore different aspects of the Growing gap between rich and poor countrie and the connection with globalization. The issue of economic inequality is related to the ideas of equity: equality of outcome and equality of opportunity. There

Some of the major factors that affect the growing gap between the rich and the poor are the, labor markets policy, racism, technological changes, the culture, lack of proper education, taxes reforms, inequality in wages, also government facilitated initiatives can decrease or increase the inequality and some economists believe that even the globalization contributed to the increasing

From the perspective of a poor countrie a threat is the fact that now it is more open to being exploited and controlled by the developed countries. The control can be exercised over some political systems and even social aspects. Poor countries often have to submit because failure to do so could lead to deleterious effects including the withdrawal of financial assistance, FDI and possible trade restrictions through trade embargos. It is notable that even when developing countries receive financial aid from developing countries and international financial organisations, they are not at liberty to spend the finances in the projects that they desire to develop. The projects to be undertaken using the funds are often dictated by the donor countries; most often to promote their own self interests. While the concept of dominance is true, it is a perfect example of the struggle for dominance that characterises societies. Another threat caused by globalization can be the one over workforce, the individuals can move more easily from one country to another so the specialized workforce can move to more developed countries where they can get higher wages. The result of this moving is that the poor countries are now experiencing shortage of qualified staff to run local institutions. The globalization can be a threat also because the dependence of developing countries on the developed ones increases. Reduced trade