Globalization and Social Class Inequality: The Impact of Capitalist Economic Structures on Social Stratification in Nation-States
Year: 2024
Type: article
Abstract: The twenty-first century has brought forth fast globalization, more technological advancement, and better transportation, all of which have contributed to a continually changing environment for international trade. Although social inequality has increased, capitalism structures have been stabilized by this process. Disparities have grown as a result of labor market change, altered employment patterns, and technology breakthroughs. For low-skilled workers, job stability is being threatened by the transition from manufacturing to service sectors and the disintegration of global supply networks. Meanwhile, elites now own a larger share of the wealth due to increased capital flows. Diverse national responses are needed to address these issues, with a focus on robust social welfare initiatives and sensible laws. Improving social security, controlling financial flows, and guaranteeing moral labor practices are some of the solutions. Future initiatives ought to prioritize social welfare and economic fairness, encourage international cooperation, and promote equitable globalization.
Author: Yinzhou Chen
Language: English
Field: Social Sciences
Domain: Social Sciences
Open Access status: hybrid
OpenAlex ID: W4404489066