Notes on Prosperity, Poverty, and Inequality in the Era of Globalization
Journal of Economics Bibliography. Vol. 6, No. 4, pp. 288-308, 2019
21 Pages Posted: 11 Feb 2020 Last revised: 8 Sep 2020
Date Written: December 30, 2019
A common question in academic debates is whether globalization exacerbates poverty and inequality on the planet. Many argue that globalization is indeed a force for adverse developments for humanity. The purpose of this study is to discuss the extent to which these approaches are valid. To achieve this goal, we first consider some valuable contributions to the study of the phenomena of poverty and inequality, and then we examine their statistical imprints throughout history by using available data. Empirical evidence does not show a dramatic increase in poverty or inequality, especially in the less developed countries on the planet: they reveal the opposite. In conclusion, we present some misconceptions in the articulation of a contemporary economic policy that appear to hinder effective solutions to tackle poverty and inequality.
Keywords: Poverty, Inequality, Globalization, Misconceptions
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