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Globalization and its effect on world poverty and inequality

Year: 2014

Type: article

Abstract: Poverty is the world’s biggest challenge and the inequality of global wealth distribution is frightening. 80% of the 7 billion people in this world live less than $10 dollar a day and only 5% of global income was generated by the poorest 40% of the world population while 75% of the global income was generated by the wealthiest 20% of the world’s population. Numerous numbers of studies has been made linking globalization towards poverty and the issue has been debated and inconclusive. Thus, this paper discussed the two schools of thoughts regarding this matter - the optimists that believe globalization as the solution of poverty and inequality, and the pessimists that believe globalization as the cause of poverty and inequality.

Source: Global Journal of Management and Business Research

Authors: Mohamed Khaidir Alias, Zanariah Zainal Abidin, Selina Dang Siew Ping, Azim Izzuddin Muhamad, Hardy Loh Rahim

Language: English

Topic: Income, Poverty, and Inequality

Subfield: Sociology and Political Science

Field: Social Sciences

Domain: Social Sciences

SDGs: Reduced inequalities, No poverty

Open Access status: diamond

OpenAlex ID: W2338229270

FWCI: 3.225

Cites: 18

Cited by: 22

Related to: 10