The debate on the issue of economic inequality mitigation has been one of the central aspects of global discussion for decades. The primary concern of such an argument has always been based upon establishing a direct link between the process of globalization and an increase in the gap between average incomes within state populations. The problem has become extremely important in terms of the US economy and the state’s attempts to minimize the financial gap between the national elite and the working class (Reich, 2015). However, despite the ongoing scholarly research, the final decision of whether globalization is a direct cause of economic inequality remains rather vague for a number of reasons.
Firstly, although there exists explicit evidence on the ways globalization and its economic market influences the national economies of the developing states, one cannot deny the fact of positive changes brought by the phenomenon (DeLong, 1998). Secondly, the very process of globalization and economic development has now become rather subjective in terms of its assessment due to the lack of qualitative data of globalization influence in developed and developing countries individually (Keohane & Nye, 2000). Hence, the modern focus in terms of the situation should be shifted from the roots of the issue towards its efficient resolution.
Thus, the modern thoughts on eradicating economic inequality are not aimed at affecting the already irreversible globalization process, as it would be an inconsiderate waste of valuable resources. In fact, the focus is to be placed on reducing the socioeconomic gap between the social classes within states (Reich, 2015). One of the most efficient suggestions in the case would be to introduce systems of tax reconsideration, aiming at contributing a part of the upper class’s incomes to the state development and opportunities for the middle classes (Domhoff, 2006). Although such a concept will inevitably be opposed by the corporate community, leading to delays in the overall achievement, the efforts towards reaching the goal should still be made to be noticed by the world community.
References
DeLong, B. (1998). Trying to deal with globalization. Web.
Domhoff, G.W. (2006). Who rules America? The corporate community and the upper class. In Patricia Adler and Peter Adler eds., Sociological Odyssey: contemporary readings in introductory sociology (2nd ed.).
Keohane, R.O. & Nye, J.S. (2000). Globalization: What’s new? What’s not? (And so what?) Foreign Policy, 118, 104–119.
Reich, R. (2015). The political roots of widening inequality. Web.