Globalization and Poverty: A Single Global Process

After 500 years of globalization we claim that we have made many achievements. However, centuries have passed and the poor is yet to benefit; we currently have the largest population of poor people in the world. Many are affected by labor issues. Illiteracy, homelessness and health issues have increased and a host of other social and economic ills have not only persisted but are on the increase. While the rich are getting richer, the poor have not benefited in any material way and has even become poorer; increasing the wealth gap between the rich and the poor. However, globalization should have had the opposite effect since Third World countries would be able to tap into a wider market and have access to a larger scope of technology. Why has the level of inequality persisted when globalization should have assisted developing countries to achieve developed status?

JACQUELINE MARQUIS