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Poverty in the Global economy - Essay Example

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These consequences include the increase in health issues in the general population, increase in corruption, raise in crime, more teenage pregnancies, and erosion of social mobility. Concerning democracy,…
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Poverty in the Global economy
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17 July Poverty in the Global Economy With the growth in income inequality, various consequences are observed. These consequences include the increase in health issues in the general population, increase in corruption, raise in crime, more teenage pregnancies, and erosion of social mobility. Concerning democracy, income inequality weakens democracy. Democracy implies that every citizen has a right to equality. Income inequality creates hatred, political volatility, and erosion of the authenticity of democratic organizations. It leads to political divisions. This makes it tough for governments to tackle disparities. The government should try harder to redistribute income so that the have-nots can make use of their share as it is their democratic right. By redistributing income, the government’s popularity will increase. High levels of inequality are not alright. Inequality cannot be solved by taking from the wealthy and giving to the poor. However, it can be solved by empowering the poor. By empowering them, they are given power to do something which shall lead to productivity. Persons who work hard can also be identified by the leaders in the society and rewarded. This will create productive competition among the people. In such a scenario, the society should also strive towards equality in income (Snarr and Snarr 9).
When it comes to poverty, globalization has been a negative force in the world. The reason for this is that it has allowed bigger businesses and wealthier nations to drive forward their aims at the expense of less endowed nations and small businesses. This has been through progress in technology which small businesses and developing countries cannot manage to pay for. Also, many of the jobs created by globalization are not well paid and companies have been outsourcing cheaper labor from other countries (Snarr and Snarr 16).
Work Cited
Snarr, Michael T and D Neil Snarr. Introducing Global Issues. Lynne Rienner Publishers, 2008. Print. Read More
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