Globalization widens the gap from "summary" of The Haves and the Have-Nots by Branko Milanovic
One of the key consequences of globalization is its impact on inequality. As countries open up to international trade and investment, the benefits of globalization are not distributed evenly. In fact, the gap between the haves and the have-nots tends to widen as a result of increased economic integration. Globalization often benefits those who are already wealthy and well-connected, as they are better positioned to take advantage of new opportunities in the global economy. On the other hand, those who are marginalized or disadvantaged may struggle to compete in a more competitive and interconnected world. One way in which globalization widens the gap is through the phenomenon of "skill-biased technological change." As countries adopt new technologies and production methods, the demand for skilled workers increases, leading to higher wages for those with the right skills. This can exacerbate income inequality within countries,...
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