Globalism for the purposes of moving capital can result in social injustices, low wages, unemployment and increasing income inequality. While globalism is not the direct cause of global poverty, it has dramatically increased the divide between those that ‘have’ and those that ‘have not’.
Market oriented polices may lead to or exacerbate poverty due to:
- Reduced state spending on social supports, so those with the most need, get even less
- Higher unemployment as public sector jobs are eliminated.
- Goods and services once provided by the state must now be purchased in the free market.
- Downward pressure on wages
- Increased marginalization and/or exploitation of women
- Rural to Urban migration
PBS produced a compelling series of programs on the nature and impact of globalism titled Commanding Heights: The Battle for the World’s Economy. This poignant segment illustrates the effects of income inequality due to globalism.
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