Chapter 22, 23.docx

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Department
International Affairs
Course Code
INTL 1101
Professor
Denise Horn

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Nicole Hicks Globalization and International Affairs Ch. 22 Martin Wolf Economic Growth and Inequality - Globalization hasn’t increased inequality OR poverty… think of India and China, and how they grew (in the 1990s/early 2000s) so rapidly o Such rapid economic growth in poor nations (who happen to have half the world’s population…) greatly effects the “sort of inequality which matters, that among individuals” o It’s “nonsense” that the richer are getting richer and the poorer are getting poorer – Asia proves this  They chose international integration and it worked! Rock on liberal policies - Since the start of the 19 century, changes in inequality among individuals is caused by changes in the relative wealth of nations o All of the apparent inequality is just the “tyranny of history” – by 1980, inequality between countries was impossible to fix, UNTIL “there was much greater convergence of relative incomes” - Extreme poverty used to be almost universal, but now it’s rare – affects less than ¼ of humans (whose population has greatly increased!) - Countries who have done well economically (in the era of globalization) have seen a significant decrease in child labor Ch. 23 Robert Hunter Wade
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