Thesis
This paper is on Income Inequality in society which rises die to Globalization. We will discuss the possible solutions to overcome this problem and help the society.
Globalization’s Inequality Problem and Solution
Problem of Globalization
Everyone cannot get equal benefit from Globalization. Inequality is one of the major problems of Globalization and in most cases percentage of society which gets benefits from Globalization is comparatively smaller as some portion of population is increases their income rapidly while others only gets to enjoy small improvements or no improvement at all in their financial condition. This creates inequality in society leading to Gap between rich who get richer and poor who get poorer.
Solution to Financial Inequality Problem (Example of Mexico)
This economic gap is growing as technology is advancing at rapid rate every second leaving many people behind. Many of them are incapable of catching up with technological advancement and those who adapt to this advancement get to benefit from it.
Technological advancement through globalization helps citizens get access to information, develop knowledge, create new innovation and learn the way people live and solve their daily issues. This leads to creation of incentive to work to attain control over their life and decisions and achieve total freedom.
Solution to Financial Inequality (Example of China)
Child Labor is a pressing issue as many children go to work rather than going to school for education. Reasons why child labors exist are derisory facilities of schooling, poverty, dishonest employers and too many family members. To overcome problem of poverty some changes are needed in society like increasing wages of adults to help them better support their families, making education more interesting or improve the working conditions where children visit to work.
This would require additional funds being placed in schools to make schooling more fun as many children quit schools as they find them mundane and they don’t manage to learn much from schools. Legislation is required to be passed on child labor where no child under the age of 16 should be allowed to work in factories. Factories should be monitored on continual basis to ensure there are no children underage employed.
Many times poor people are relocated to new places when any redevelopment is done in their area. It is the duty and responsibility of government to provide relocated people with monetary and non-monetary help for the time they are capable for finding a new source to support their families and them and get new place to live.
Conclusion
Globalization leads to income inequality as people who adapt and identify opportunities of globalization are able to maximize their income in small amount of time while others remain stable or experience minor benefits. To overcome this issue of income inequality many measures can be passed which will have different levels of impact on the economic conditions of people. These can be passing Legislations over education, government aid to poor, abolishing child labor among others.
References
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Pilger, J. (9/7/2002). Seven Solutions of Globalization. Retrieved from. http://www.angelfire.com/ak5/alandavistravis/globalizationinchinasolutions.htm
Tverberg, G. (2/22/2013). Twelve Reasons Why Globalization is a Huge Problem. Retrieved From. http://ourfiniteworld.com/2013/02/22/twelve-reasons-why-globalization-is-a-huge-problem/
Lane. (4/15/2009). Reducing inequality: put the brakes on globalization?. Retrieved from. http://crookedtimber.org/2009/04/15/reducing-inequality-put-the-brakes-on-globalization/
Stuart, H. M. (9/4/2010). Solve the problem of globalization. Retrieved From. http://www.aleksandreia.com/2010/09/04/solve-the-problem-of-globalization-2/
(10/24/2012). Income Inequality and Globalization: The Protectionists Rule!. Retrieved from. http://www.cepr.net/index.php/blogs/beat-the-press/income-inequality-and-globalization-the-protectionists-rule
