Do We Now Live in a More Equal World Essay Example | Topics and Well Written Essays - 2000 words

Do We promptly Live in a More Equal World - Essay ExampleBy the give up of the twentieth century, the phenomenon of global income inconsistency was seen to be greater than it was ever before. Global distinction has two pellucid dimensions. These argon the inequalities that exist between countries and the inequalities that exist within the countries. Not e preciseone in the developed communitys, like the united States, is known to be adequate and similarly not everybody in a scummy country is poor. It is obligatory to take these two cakes together. The solid ground was divided into three categories by the World Bank going by their income levels - low income country, middle income country and high income country (Peet & Hartwick, 1999, p.6). Global inequality affects the living condition of the poor countries. Economic growth can affect not only the GDP and gross national product of a nation but its overall heath and living conditions too (Wermuth, 2003, p.22). But before f raming any conclusion, it is master(prenominal) for the analysts to differentiate between inequality and scantiness in these countries. To measure poverty, it is essential to defecate a poverty line which is usually set at a higher level in richer countries. As for the poorer nations, there is little income gradient in the poverty line (Ravallion, 2003, p.745). Similarly, to measure the economic indicators like GDP and GNP that help to estimate global inequality, we also need some measurement tools. GDP is measured by the production output units like bushels of wheat etc. The exchange rate mechanism is used to measure the national income or GNP (Firebaugh, 2006, pp.34-35). One of the many reasons why global inequality or world inequality is so prevalent today is the extent up to which the income and the wealth of the countries is distributed in a very uneven manner among the worlds world. There is little doubt among the researchers that this income inequality that is seen both within and between the nations has been on a rise since the mid-twentieth century. It has been reported by the World Bank that the increasing gap between the rich and the poor countries over the past forty years has accounted for much of the increase in the worldwide income inequality amongst individuals and other households. Inequality patterns and consequences Globalization is divided into three patterns. These are unweighted global inequality, weighted global inequality and global inequality (Held & Kaya, 2004, p.3). In the first pattern, the mean of the country GDP across several countries are considered and population size is not taken here. The second pattern is also the same except that it takes population size into consideration. Global inequality measures difference between individuals of the world. These include intra country and inter country inequality. In 1960, the per capita GDP in the most of the richest 20 countries was found to be eighteen times than that in the po orest twenty countries. By 1995, the same gap had widened to almost thirty-seven times (World Development Report 2001). This shows that there has been a huge increase in polarization between the nations overtime (Bata,Bergesen, 2010, p.9). According to a survey, the top richest countries in the world in 2007 were Qatar, UAE, the USA, Hong Kong, Switzerland etc and the poorest countries were Democratic Republic of Congo, Liberia, Central African Republic, Mozambique etc (The UNICEF social and economic paper, 2011, p.19). There have been many sociological