It has been claimed that globalization has the potential to reduce inequalities in the world. Conversely, it has been argued that globalization is leading to deeper and broader social inequalities. Evaluate these claims using academically valid sources and information as evidence for your argument
Globalization has been a controversial topic for many years, and its impact on social inequality has been widely debated. Some argue that globalization has the potential to reduce inequalities in the world, while others claim that it leads to deeper and broader social inequalities. This essay will evaluate these claims using academically valid sources and information as evidence for the argument.
Proponents of globalization argue that it has the potential to reduce social inequalities by creating new economic opportunities for individuals and businesses in developing countries. For example, the World Bank reports that globalization has led to significant reductions in poverty rates in many countries, as a result of increased access to markets and foreign investment (World Bank, 2019). Additionally, globalization has facilitated the spread of technology and knowledge, enabling developing countries to catch up with the more advanced economies.
However, critics argue that globalization has led to deeper and broader social inequalities, particularly in terms of income distribution and access to resources. According to Oxfam, the world’s wealthiest 1% hold more wealth than the rest of the world’s population combined, and this gap is widening (Oxfam, 2020). This inequality is often exacerbated by global trade policies that benefit multinational corporations at the expense of local workers and communities.
Furthermore, globalization can contribute to environmental degradation and exacerbate the impacts of climate change, which disproportionately affect marginalized communities. For example, the World Health Organization reports that climate change is expected to increase the number of deaths from malnutrition, malaria, and other diseases, particularly in developing countries (WHO, 2021).
In conclusion, while globalization has the potential to reduce social inequalities by creating economic opportunities and spreading knowledge, evidence suggests that it has also led to deeper and broader inequalities, particularly in terms of income distribution, access to resources, and environmental impacts. Therefore, it is crucial to ensure that the benefits of globalization are shared more equitably and that policies are in place to address the negative impacts on marginalized communities.
Oxfam. (2020). Time to Care: Unpaid and underpaid care work and the global inequality crisis. https://oxfamilibrary.openrepository.com/bitstream/handle/10546/620928/bp-time-to-care-inequality-200120-en.pdf
World Bank. (2019). Globalization: A Brief Overview. https://www.worldbank.org/en/topic/globalization/brief/globalization-a-brief-overview
World Health Organization. (2021). Climate change and health. https://www.who.int/news-room/fact-sheets/detail/climate-change-and-health