Globalism And The Growth Of Income Disparity - 889 Words

Globalism and the Growth of Income Disparity Globalism and the Growth of Income Disparity Globalism refers to connectedness and communication networks that span continents and bring the world s people closer together, and globalization refers to how globalism increases or decreases. Digital technology has increased globalism, global marketing and business opportunities, but this growth doesn t mean that everyone gets a share of the wealth. There has been a growing gap between the richest and poorest people that only seems to increase as globalism generates more opportunities. The top fifth of U.S. households, for example, own 84 percent of the nation s wealth while the bottom two-fifths only own 0.3 percent of the country s wealth according to the a href=http://www.economist.com/blogs/economist-explains/2014/09/economist-explains-0Economist.com. A Scalar.USC.edu study found that incomes for the richest 1 percent tripled between 1979 and 2007 while median income households only earned 25 percent more in the same period, and most of that increase was due to labor force incr eases and people working longer hours. Income Disparity Between Poor and Rich Has Grown Steadily Under Globalization People persist with many misconceptions and seem to prefer rags-to-riches success stories over the hard facts that the disparity between the haves and have-nots continues to increase. These misconceptions include: Globalism makes things fairer for everybody. People live similarlyShow MoreRelatedGlobalization: The Road to Worldwide Peace and Prosperity Essay688 Words   |  3 Pagespeace a chance Lyrics from the song, Give Peace A Chance by John Lennon Is globalism just another ism to be feared and loathed? 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Explain the Impact This Change Has Made on Our Lives and Why It Is an Important Change.163893 Words   |  656 Pageswhere human communities globally and individuals locally had the potential to be much more intensely connected by new communications technologies, state-sponsored programs to achieve autarky, a global epidemic of ethnic strife, uncontrolled urban growth, and the dissolution of extended family ties in many societies divided nations and communities and isolated individuals to an extent unparalleled in recorded human history. For teachers, in particular, the challenge of weaving together in meaningful