Market forces drive disparities from "summary" of The Haves and the Have-Nots by Branko Milanovic
Market forces, with their inherent nature and mechanisms, play a crucial role in shaping economic disparities within and between countries. These forces are driven by various factors such as supply and demand, competition, technological advancements, and globalization. They operate on the principles of profit-maximization and efficiency, leading to unequal outcomes for different individuals and groups in society. In a capitalist economy, market forces determine the distribution of resources, wealth, and opportunities. Those with valuable skills, resources, or assets are able to command higher prices for their goods and services, leading to a widening gap between the haves and the have-nots. This process is exacerbated by the unequal access to education, healthcare, and other essential services, which further entrenches economic disparities. Globalization has intensified the impact of market forces on income and wealth in...
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