Globalization and inequalities

The purpose of this paper was to reflect on the relationship between globalization and income inequalities. The paper investigates briefly the forces that make income inequalities within a nation or between advanced and developing countries a lingering problem.

The paper discusses inequality in the context of capitalism and globalization. It relies on recent debates on the state of globalization and the dark side of inequality.

Based on a survey of the current literature on the state of economic and income disparity, the paper demonstrates that inequality is not something that can be obliterated easily. The paper recommends that, in the near future, the only perceivable solution is a modified form of global capitalism. In the long term, however, a more inclusive economic system is needed.

The paper reflects on the state of income inequality in light of the current debate and economic crisis. It makes a powerful argument that in the era of globalization coordinated efforts must be undertaken to lift the spirits of those who are left out of economic activities and find creative ways to unlock their energy to contribute effectively to economic growth and opportunities.