Wade & Wolf Analysis - Essay Example

Download file to see previous pages Both Wolf and Wade focus on the impacts of globalization on the level of poverty and pay inequality in the world. Wolf is of the opinion that globalization has reduced poverty and pay inequality but Wade refutes Wolf’s statement. Wade doubts the creditability of sources upon which Wolf had based his judgment. “But recent research on where the Bank got the 1.2 billion suggests that the method for calculating the numbers is probably to understate the true numbers in poverty.” (Wade 440). Wade thinks the inequality in the field of income among countries is measured through an incorrect method. He mentions that household expenditure can aid in providing the correct picture about unequal income distribution. The difference in the household expenditure proves that the inequality in pay among various countries is on increase. He proves his stance by providing the statistics that bring forth disparity in wages. “Roughly 85 percent of world income goes to 20 percent of the world’s population and 6 percent to 60 percent of the world’s population”. (Wade 441). He differs from Wolf’s view that globalization aids in the development of the country. But while looking at the inequalities in income distribution, Wade ignores the situation in China and India. And it is this attitude of Wade that Wolf refers to in his article; Wolf says that India and China with their enormous population cannot be overlooked while analyzing the changing trends in the field of poverty and income distribution. “But why would one want to exclude two countries that contained 60 percent of world’s poorest people two decades and still contain almost 40 percent of world’s population today?” (Wolf 442). Wolf contrasts with Wade when it comes to the contribution of India and China in narrowing the gap of inequality that has been prevailing in average income for countries all over ...Download file to see next pagesRead More