BLOG #12

BLOG #12

“The need for deliberate international redistribution is underlined by the evidence that world poverty may be higher in absolute numbers than is generally thought, and quite possibly rising rather than falling; and that world income inequality is probably rising too. This evidence suggests that the income and prosperity gap between a small proportion of the world’s population living mainly in the North and a large proportion living entirely in the South is a structural divide, not just a matter of a lag in the South’s catch-up. Sustained preferences for the South may be necessary if the world is to move to a single- humped and more narrowly dispersed distribution over the next century.” (Wade; pp. 583).

In this quote Wade answers directly not only the current state of affairs in relation to globalization and its impact in the world but most importantly, it ultimately acknowledges that this model of economic governing could extend the same and greater detrimental conditions for people around the world. Poverty and inequality are in fact correlated to this accumulation by disposition argued by Harvey and the continuous model of capital accumulation at the expense of everyone and everything, including the environment just creates a gab, socially and economically, that keeps widening itself due to the disproportionate distribution of wealth.

In the reading, Wade presents various graphs that depict the distribution of wealth and the implementation of neoliberal policies that have created a trend in countries around the globe exposing the same situations. While 90% of the world population sinks into poverty and inequality and facing major health, environmental, political and economic deprivation, 1% just keeps getting richer. In the reading Wade makes an interesting argument towards the accumulation of wealth by powerful nations and how that makes their involvement in military actions cheaper. While I don’t completely agree with his judgement the reality is that countries like the United States greatly affected by this economic model, keeps investing in the military and further involving militarily, certainty because it has the means to do so. For example the liberty with which conflicts with Iran are mentioned now in the news (even though it has nothing to do with this) it can certainly expose side consequences of too much capital and power in the hands of a few who don’t represent or understand the necessities of the greater majority.  

As mentioned in the lecture, this problem cannot analyzed using economic models only because at the end of the day people’s lives cannot be measured in cold numbers or graphs but one just need to visit certain neighborhoods within this country or elsewhere around the world to see that the way the elite lives is disproportionate with the deplorable conditions of many that truly need help and assistance. A disappearing middle class is evidence of the gap but the question that matter the most when will it stop? The answer doesn’t seems hopeful under this system. Fundamentally, the world as it is organized today clearly is tilted towards one direction and regardless if globalization has or not to do with it the reality is that it has helped amplified the problem instead of solving it.