NBER WORKING PAPER SERIES WINNERS AND LOSERS OVER TWO CENTURIES OF GLOBALIZATION Winners and Losers Over Two Centuries of Globalization (original) (raw)
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Globalization and Global Inequalities: Recent Trends
Ritzer/Blackwell, 2015
This essay describes the evolution of global income inequality over the past two-and-a-half centuries, and its likely evolution during the twenty-first century. Global income inequality—the sum of inequality within and between nations—is massive today, the legacy of uneven growth in the world’s regions since the advent of the Industrial Revolution. Because incomes shot up in the West while lagging behind in Asia and Africa over most of this period, between-nation income inequality grew dramatically, and most global income inequality now lies between nations. Economic growth remains uneven across the world’s regions, but the fastest growth is occurring in populous poor regions of the world, compressing between-nation inequality. As a result, global income inequality is currently receding, according to most (but not all) investigations of the matter. The compression of global inequality is attributable to rapid economic growth in China and India: If the rate of economic growth in China and India were the same as in the rest of the world, global income inequality would not be declining. The slow rate of economic growth in sub-Saharan Africa, on the other hand, is retarding the decline. A high level of global income inequality is problematic in large part because it results in abject poverty for masses of people. If average income in the world continues to rise, alleviating abject poverty in the twenty-first century, for future generations the level of global income inequality might matter much less than the level of income inequality within local communities.
GLOBALIZATION AND ROLE OF WTO IN BRIDGING THE INEQUALITIES BETWEEN MEMBER COUNTRIES
ENSEMBLE SPECIAL Issue 1 http://www.ensembledrms.in/wp-content/uploads/2022/11/Article\_7.pdf, 2021
Globalization in the literal sense means those activities which go beyond the national boundaries of sovereign nations. These activities may be related to any social spheres like economic, political, social or legal. Economic globalisation denotes the transnational activities of trade which includes imports and exports. Social globalisation denotes the free movement of technology and social values from one sovereign nation to other. It also includes the uniformity in cultural values and free movement of citizens of one nation to other. Globalisation in political matters would include the consensus of different nations regarding mutual issues like climate change, United Nations peace keeping etc. etc. Legal globalisation means establishment of different legal systems which regulate and govern all the sovereign nations uniformly like WTO, ICC etc. etc.Over the past three decades the concept of globalisation has so flourished that it has now replaced the concept of Nationalization. The author would like to unfold the different dimensions of economic globalisation and role of World trade organisation in bridging the inequalities which were faced by sovereign nations.In this context, globalisation is understood purely in economic terms, i.e., growing trade interdependence and investment integration. The strong globalisation thesis claims that national governments' macroeconomic and industrial policies can only distort and obstruct the rational allocation of resources by business decisions and consumer choices, which are now decided on a global scale. To succeed, all corporate actors must abandon their domestically oriented bureaucratic management style, as well as the government involvement that comes with it, and join the new world of open global marketing and production networks. National plans and policy action are likely to distort international markets, which offer coordinating and governing mechanisms in and of themselves. The age of successful national economies, as well as the state policies that accompanied them, has passed. The market will, and should, make the final decision.
2020
World income distribution can be thought of as the combination of (a) the internal income distributions for all the countries and (b) the distribution of average incomes across countries. Most of the inequality in world incomes reflects inequality in country averages rather than inequality within countries. The global distribution of income is becoming ever more unequal. That should be a matter of greater concern than it is-Robert Wade Nobody denies that world income distribution became vastly more unequal after the industrial revolution. On this timescale divergence dominates, big time. But what happened in the past three or four decades? Having ignored world income distribution for decades, international economics has lately seen a burst of interest. But the statistical difficulties are so formidable that the debate has so far revolved around questions of econometric technique.
The Effects of Globalization on World Income Inequality
Globalization is defined as the transfer or easy flow of goods, services and capital from one country to another. Due to this rapid transfer in trade across boundaries, this article attempts to bring out the relationship that exists between globalization and income inequality levels across regions, and among individuals within different countries. To do this the article brings clearly the empirical evidence that various economic researchers have come up with, and most important is that there are various schools of thought giving different view points in so far as this relationship is concerned. Therefore this article seeks to give a comprehensive look in the various view points, and through empirical evidence comes up with a rational and factual analysis on the effects that globalization has on income inequality.