Assessed Essay Question. ‘The Problem Of Poverty Is A

Assessed Essay Question: ‘The problem of poverty is a problem of riches’. Analyse with reference to recent trends in global economic inequality. Essay Number: 30923 Word Count: S_37/20 114/22 555/23 666 989/24 1612 2127/25 3107/26 3851/27 1 Introduction In the context of globalization, the unbalanced economic development as the basic rule of global economy and nations’ economic development has been widely accepted by the public around the world. However, people are not subjectively willing to face the increasing economic inequality between the rich and the poor, meanwhile, people are objectively unwilling to accept the reality of wealth polarization. The recent trends of global economic inequality mainly include: the sheer number of†¦show more content†¦However, the phenomenon of wealth polarization is still a serious social problem in modern society. Nowadays, the wealth polarization between the poor and the rich becomes more common and internationalization, the wealth polarization has involved the field between developed countries and developing countries as well as within the individual country. Therefore, the definition of wealth polarization can be refined into absolute poverty and relative poverty. Relative pov erty is an officially recognized phenomenon in developed countries, while absolute poverty is a serious problem plaguing developing countries, especially for those undeveloped countries (Chen and Ravallion, 2007). In the global context, the global economic development has brought great wealth for human being. At the same time, due to the unbalanced development and disproportionate share, the gap between the rich and the poor is growing. This phenomenon has especially occurred in the relationship between developed countries and developing countries. Even, those poor countries would not achieve sustainable development if the situation that the rich class still accounts for the large amount of global spending does not be changed. For example, many multinational companies of developed countries haveShow MoreRelatedBeing Poor Is Hazardous to Ones Health1670 Words   |  7 Pageswealthy counterparts in better neighborhoods and the suburbs. The poor who are mostly of color are segregated by income into these areas where poverty, toxic waste, pollution and crime make their lives miserable indeed. Questions It is expensive to be poor in America. With unemployment being persistently high, this is good news for those in the poverty business who make money off of the misery of the poor. 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