Question bank: World: Global Inequality

In the era of globalization, international corporations and economic organizations play an important role in people's lives regarding consumption, culture, and mobility. Taking this into account, which of the following alternatives best represents the role of these corporations in widening inequality in the globalized world?

Globalization is a multifaceted phenomenon that has a direct impact on the economic and social conditions around the world. While some argue that globalization promotes economic integration and development, others point to the exacerbation of inequalities between and within countries. In this context, economist Joseph Stiglitz, in his book 'Globalization and Its Discontents' (2002), states that 'the way globalization has been managed, including the policies that have been imposed on developing countries during crises, has been a major factor in the increase of poverty and inequality'. Based on Stiglitz's quote and your knowledge on the subject, answer: 1. How can globalization contribute to the widening of social and economic inequalities between countries? 2. Discuss a practical example where the management of globalization has negatively impacted the economic and social conditions of a developing country.

Globalization has been a widely discussed phenomenon regarding its social and economic consequences. Global inequality is one of the problems that have been accentuated with the expansion of this dynamic, as while some countries experience high levels of development, others remain in situations of extreme poverty. According to the Oxfam report 'Time to Care: Unpaid and underpaid care work and the global inequality crisis', published in 2020, 'economic inequality is rooted in an economic and social system that values capital over labor and reproduces, perpetuates, and exacerbates inequality in various spheres of life'. Based on this quote and your knowledge, describe an example of global inequality that can be attributed to the dynamics of globalization and explain how these dynamics contribute to perpetuating this scenario. Additionally, propose an action that could be taken at a macro level (governmental or supranational) to mitigate the effects of this inequality.

Globalization is a phenomenon that has profoundly transformed the economic and social dynamics of the planet, connecting regions, markets, and cultures in ways previously unimaginable. However, this global integration has not been accompanied by an equitable distribution of wealth and opportunities, resulting in a scenario of significant global inequality. According to the Oxfam report in 2019, 26 people owned the same wealth as the poorest half of the world's population, highlighting extreme disparities. In his book 'Liquid Times: Living in an Age of Uncertainty,' sociologist Zygmunt Bauman argues that globalization is not a homogeneous phenomenon but rather a process that generates 'islands of wealth in a sea of poverty.' Based on this context and Bauman's quote, analyze and discuss the following statement: 'Globalization, far from being a phenomenon of social and economic integration, is actually a mechanism for the reproduction and widening of inequalities among nations and within them.' In your argument, consider the impact of globalization on labor market dynamics and international trade relations, and evaluate possible strategies to mitigate the negative effects of this phenomenon.

Globalization has brought with it the economic and cultural integration of various regions of the world, but it has also highlighted and, in some cases, exacerbated social and economic disparities between countries and within them. A study conducted by the World Bank in 2020 revealed that, despite significant progress in recent decades, extreme poverty persists in several nations, mainly in rural areas and among minority populations. Considering the concept of 'global inequality,' analyze the following excerpt, authored by economist and geographer David Harvey: 'Globalization has been a process of intensifying interconnections and accelerating the circulation of capital, goods, people, services, and information. However, instead of promoting an equitable distribution of benefits, we have seen a concentration of wealth and power on a global scale, with direct consequences for perpetuating social and spatial inequality.' (Harvey, D. 'Spaces of Global Capitalism: Towards a Theory of Uneven Geographical Development', 2006)