The Problem Of Extreme Poverty

1297 Words6 Pages
In the last 10 years, the end of extreme poverty has been a top priority in the inequality equation. A report by the World Economic Forum 's Global Risk states that inequality in 2013 is a big global risk. The world should immediately put in place objectives that abolish extreme inequality around the globe. The net income of 2012 from the 100 richest billionaires was $240 billion, which could end extreme poverty 4 times over. Having so much money and power in such few hands, causes depressed demand. Money must be shared around more equally thus it would give individuals more spending power which in return, drives economic growth upwards and inequality downwards. Neoliberalism is both a policy and economic theory. The theory states that a…show more content…
Thus, the lower the inflation and the accessibility of inexpensive credit should assist low-income families and have a good effect on inequality. Economic globalization is the growing economic incorporation and interdependence of national, regional and local economies across the globe through strengthening of cross-border movement of goods, services technologies and capital. Economic globalization can involve the economic and financial portions of a country, but its mutually dependent nature can without doubt affect a nation 's legislative system and cultural characteristics. Tax agreements and trading guidelines are formed between nations to control trade and to defend either nation from terrorism threats. The increase of the global economy has come with a huge growth in international trade, in technological advancement, in migration and in investment. These modifications cannot be reversed, and it has made new opportunities for economic growth in developed nations. Ever since the 1980s, global labour force has increased and the supply of untrained labour surpasses demand. To expand guarantee to more people, developed countries should introduce new forms of social support, plus an importance on things such as healthcare, employment support and education. Developed countries profit from globalization as they have the accountability to reduce clashes and to make certain that all individuals have the chance to attain practical and various skills and to hand out
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