Economic globalization benefits the wealthy at the expense of the marginalized from "summary" of Profit Over People by Noam Chomsky
The global economic system operates in a manner that ensures wealth and power are concentrated in the hands of a small elite, while the rest of the population struggles to make ends meet. This system, known as economic globalization, is designed to benefit the wealthy at the expense of the marginalized. One of the key ways in which economic globalization benefits the wealthy is through the deregulation of markets and the removal of barriers to trade and investment. This allows multinational corporations to exploit cheap labor and resources in developing countries, while avoiding taxes and regulations in wealthier nations. As a result, profits soar for the wealthy elite, while workers are left in precarious and exploitative conditions. Furthermore, economic globalization has led to a widening wealth gap between the rich and the poor. The neoliberal policies that underpin economic globalization prioritize corporate profits over the well-being of workers and communities. This has resulted in stagnant wages, rising inequality, and a lack of social safety nets for those who are most vulnerable. In addition, economic globalization has had devastating environmental consequences, further exacerbating the marginalization of vulnerable populations. The pursuit of endless growth and profit has led to environmental degradation, climate change, and the destruction of ecosystems. These impacts disproportionately affect marginalized communities, who often lack the resources to adapt or mitigate the effects of environmental destruction.- Economic globalization perpetuates a system of exploitation and inequality that benefits the wealthy at the expense of the marginalized. Without significant changes to this system, the gap between the haves and the have-nots will continue to widen, leaving the most vulnerable members of society further marginalized and disenfranchised.
