Economic Disparity
Every country around the world has different kinds of wealth. Some countries like Dubai and the US are very wealthy countries with money coming in from tourism, exports, and good infrastructure.Not all countries can be so lucky though. Place in the Middle East and Asia, usually far periphery countries do not have as much wealth as other countries, almost all of them in fact are in debt. Economic globalization has helped many economies around the world but many countries still do not get the luxury to be a wealthy place, the distribution of wealth is not equal around the world at all. The United Nations have calculated recent per capita incomes of 100 countries have dropped drastically and will unfortunately keep dropping. Millions of people live on less than a dollar a day in far periphery countries, which is called extreme poverty. Think about that... minimum wage in Canada is $10.25/hour; people living in extreme poverty make what we make in 1 hour in over 10 days.The gap between countries and the money differences present are remarkable.There are many causes and reasons for a country to experience economic disparity. The biggest reason that a country is experiencing disparity, most of the time had to do with the countries unfair or unjust politics. Colonialism plays a huge part as well, most countries that are in economic disparity once belonged to a colony and now that there are no more colonies some countries got left behind in the process of evolving. Lack of investment from a country could also cause and extreme lack of money. Far periphery countries do not have the money or resources to invest therefore there economy’s growth is very slow because income from outside countries is not coming in. Population growth plays a part in a countries economic disparity because especially in far periphery countries where families have many children there is not enough products to support everyone comfortably
Interesting Facts!
There are 750,000 Americans who are homeless on any given night, with one in five of them considered chronically homeless. The ranks of the sheltered homeless include disproportionate numbers of males, blacks, middle-aged people (i.e., ages 31-50), veterans, and disabled. (Leland-2009)
The ownership of wealth among households in the U.S. became somewhat more concentrated since the 1980s. The top 10% of households controlled 68.2 percent of the total wealth in 1983 and 73.1% of the total wealth in 2007.
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