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Current Global Economic Imbalances

This document discusses current global economic imbalances and inequality of income and wealth. While some economists argue that globalization has reduced disparities, others believe it has increased inequality worldwide. The level of inequality between countries is currently very high, with economic disparity among the global population greater than within many unequal nations. It is important to address both poverty and inequality. Leaders and citizens must examine global inequality and implement reforms and policies to eradicate economic disparity around the world. The paper will analyze income inequality and potential "win-win" policies that can reduce inequality while promoting growth.

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Nidz Bhat
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29 views2 pages

Current Global Economic Imbalances

This document discusses current global economic imbalances and inequality of income and wealth. While some economists argue that globalization has reduced disparities, others believe it has increased inequality worldwide. The level of inequality between countries is currently very high, with economic disparity among the global population greater than within many unequal nations. It is important to address both poverty and inequality. Leaders and citizens must examine global inequality and implement reforms and policies to eradicate economic disparity around the world. The paper will analyze income inequality and potential "win-win" policies that can reduce inequality while promoting growth.

Uploaded by

Nidz Bhat
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
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CURRENT GLOBAL ECONOMIC IMBALANCES: WHAT IT IS AND WHY IT MATTERS ABSTRACT SWADHA KAPOOR (swadhakapoor153@ymail.

com, 8983367746) NIDHI BHAT ([email protected], 8446376068) PRIYA KUMARI ([email protected], 9604582431) ORGANZATION: S.C.O.E

A decade ago there was a general opinion that global inequality of income and wealth had risen between 1970 and 1990 but now the negative impact of globalization on disparities of income and wealth has been questioned. Some economists suggest that globalization has brought the world on the same platform while other critics suggest that globalization has created inequality in the world. Hence the debate rages on. The current global disparity levels - whether moving up or down stands very high. Inequality of income and wealth is as severe in global society as it is in any particular country in the world. If we try to see the, whole world as one society, we would see that economic disparity among the world population is greater than it is with in economically unequal countries marked by economic disparity and social fractures. We should care about both poverty and inequality. We need to understand the changes in national and international economic systems that together comprise the process of globalization and their relationship to the widening or narrowing of global disparity. It is also now the prime time for leaders and citizens alike to examine global inequality in moral terms. There should be reforms and policies to eradicate economic inequality in the world. This paper will throw light on the global disparity of income and wealth. There is a new analysis of policy and non-policy determinants of overall income inequality. There are winwin policies that can both reduce inequality and promote economic growth.

KEYWORDS: GLOBALIZATION, ECONOMIC INQUALITY, REFORMS AND POLICIES

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