The present society today is composed of a vast population that is so much divided by the economic status of each individual. There are those who have strived and attained the wealth that they wanted, and there are those who remained in their state and stayed poor all their lives. The vast income divide between rich and poor segregates people and even countries from one another. Not long ago the fortune of the richest man in the United States surpassed the combined net worth of more than 100 million of his fellow Americans.
Globalization has also favored the growth of rich multinational companies that have practically taken over the world market for certain products. In 1998, for example, just ten companies controlled 86 percent of the $262-billion telecommunications business. The economic clout of these multinationals often exceeds that of governments and, as Amnesty International points out, “human rights and labour rights are not a priority on their agenda. Because of this fact, economic prejudice and oppression of the poor is very eminent within the communities of any nation.
At so many situations, it could be noted that the poor are the ones discriminated from receiving the needed provisions that they ought to receive from the governments. Their rights are duly suppressed simply because of the fact that they have not much financial source to support their need or even their rights. Sadly, the situation of the poor becomes even poorer every second that the society advances ahead through technology, while the rich ones become richer because of their capability to use capitalism as a source of business, which would give them even more financial freedom.
Poverty is indeed wide spread in the whole world. Because of the lack of ability of the world governments to accurately provide people with what they need due to the fast-growing population, many among the human society are set aside and pushed towards poverty. Hence, as a result, their offspring and the generation that follows their line then remain in the said economic status. There are only a few among the many who are able to succeed in running away or struggling hard to change their status in the community.
As a result, those people steadied in their situation of being poor already loose hope in coping up with their needs. The fact that they are suppressed in having the things that they need because of their incapability to pay, they then develop the idea that there are no ways for them to survive from their miseries in life except for the fact that they need to live by and accept their life as it is. The distribution of global wealth has never been fair, but economic globalization has widened the chasm between rich and poor.
True, it appears that some developing countries have benefited from their integration into the global economy. Experts claim that during the past ten years, the number of people below the poverty line in India has gone down from 39 percent to 26 percent and that Asia as a whole has seen a similar improvement. One study shows that by 1998, only 15 percent of the East Asian population lived on $1 a day, compared with 27 percent ten years earlier. The global picture, however, is not so rosy. Wealth has its advantages, poverty its disadvantages. Riches may help to protect a person from some of the uncertainties of life.
The poor person, though, may have added problems because of being financially unable to cope with unexpected developments. Centuries ago limited communications kept most people in poor countries from observing how those in wealthier lands lived. However, today it is different. Poor people everywhere, because of newspapers, magazines, radios and television sets, are observing how “the other half” lives. They want to live that way too. Many authorities say that the world situation could get very explosive because of the rising expectations of poor nations.
It is felt that if their situation does not improve, they may be willing to accept radical solutions to their problems. And it is also generally agreed that the day has passed when the poor nations could be convinced that their condition was simply “fate,” which they should accept passively. Developments in the society will continue to thrive. In this regard, because of social Darwinism, the equal advancement in the lives of the people would continue to be much separated, the rich getting richer and the poor getting poorer.
The different capabilities of the said economically diverse society would indeed aggravate the situation. Universally, globalization has placed great pressure on working people as governments force down wages and labor standards in an attempt to attract foreign investment with the promise of low costs. While some newly industrialized countries have profited from increased exports as a result of freer global trade, poorer nations have been largely excluded from the feast. How can people escape this poverty trap? The simplistic solution is: remove the elite and share the wealth. In practice this does not work.
To begin with, there is just not enough to go around. Secondly, remove the elite and another will immediately replace them. Thirdly, experiments in socialist ideals have only [succeeded] in distributing poverty equally. Certainly, through this discussion, Medaille was able to point out that the business culture in the divided market of consumers today has caused so much pressure to the poor thus making equality among humans less possible than ever.
John C. Medaille. (2007). Vocation of Business: Social Justice in the Marketplace. Continuum International Publishing Group.