Forget closing the gap between the rich and the poor….

Close the gap between the stinking rich and the just plain normal!

Don't get me started...! (courtesy of BBC website although now seems to be deleted)

The increase of globalisation, that is, the rate at which trade and resources cross-national borders has increased significantly over recent years. This increase led to economic growth but it did not quite take the shape that governments and economists expected. There was an initial belief that globalisation will close the gap between rich and poor nations, a belief that has not materialised. Poor nations have not benefited in the way that they were set out to, perhaps because economic growth as focused on the economic issues and less on the political issues. However, what appears to be accelerating at an even more alarming rate is not the disparity between economies but the disparity within economies as illustrated above. The gap gets wider with civil servants and professionals e.g. nurses, teachers, engineers, scientists and artists getting the shorter end of the stick. Will higher taxes for higher earners mitigate this gap or will society just get more resentful of it? It’s probably easier to ignore the country next door with more economic opportunities than to ignore those living next door, earning almost 100 times more than you. Now I wonder whether to encourage my son to study engineering or whether to allow him play football and go pro. Hmm- I couldn’t in good conscience deprive him of a (normal?) career.

One question on the minds of many economists is: Is globalisation reversible? It seems almost impossible from a technological standpoint for globalisation to reverse but politically and socially, wide gaps like this could make or break globalisation. Countries like Egypt and Tunisia may be the ones to watch. Time will surely tell.

Advertisements

Comments

  1. Nice post you have there! Thanks for stopping by :). K

    Like

  2. Yup. The gap is one thing in countries where at least the basics are covered.

    In Africa, India and South America it is horrendous, because right alongside those with excess, live those who have nothing at all.

    And I mean nothing but the clothes they wear.

    Like

    • Hey Kolembo, absolutely agree. It’s scary that the gap is predicted to get wider in the foreseeable future, unless we have more courageous countries like Egypt. Or a complete reversal of fortune (Kama)…. Thanks for stopping by. K

      Like

  3. In terms of power and wealth these are always held by the few. What is needed to breakdown the negative aspects of globalisation, in my opinion, is a politician or leader who will not be bound or bought by those who hold the power. It takes a strong person to do that. They come along once in a while – Nelson Mandela, Mahatma Gandhi, Che Guevara – could not be bought but fought to free the ordinary person from imperialist chains. We are due another. The powers are now too big and money is the new God. With Tunisia and Egypt freeing their peoples are we to look to the east again for a leader? Sorry, I’m posing more questions than answers. All I want is a positive leader who will stand up and lead a generation. (Not much then.)

    Like

  4. Nice Post !

    Women’s Intellect – All Sizes, Shapes, And Colors!!
    http://womensintellect.wordpress.com/

    Like

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: