Global capitalism perpetuates inequality from "summary" of The New Confessions of an Economic Hit Man by John Perkins
Global capitalism perpetuates inequality by design. The system is set up to concentrate wealth and power in the hands of a few, while the majority of the world's population struggles to make ends meet. This inequality is not an accident, but rather a result of deliberate policies and practices that benefit the elite at the expense of the rest. One of the main ways in which global capitalism perpetuates inequality is through the exploitation of developing countries. Economic Hit Men, like myself, are sent in to these countries to convince their leaders to take out large loans for infrastructure projects that they cannot afford. These projects are often built by Western companies, who profit handsomely from the contracts. Meanwhile, the country is left saddled with debt that it cannot repay, leading to a cycle of poverty and dependence on foreign aid. Another way in which global capitalism perpetuates inequality is through the deregulation of markets and the dismantling of social safety nets. This allows corporations to amass wealth unchecked, while workers are left with dwindling wages and job security. The gap between the rich and the poor widens, as those at the top continue to amass more and more wealth, while those at the bottom struggle to make ends meet. Furthermore, global capitalism perpetuates inequality through its emphasis on competition and individualism. This creates a dog-eat-dog mentality, where the strong thrive and the weak are left behind. Those who are unable to compete in the ruthless world of global capitalism are left to fend for themselves, without the support of a social safety net to fall back on.- Global capitalism is a system that is inherently designed to perpetuate inequality. Through the exploitation of developing countries, the deregulation of markets, and the emphasis on competition and individualism, the system ensures that wealth and power remain concentrated in the hands of a few, while the rest of the world struggles to keep up. The consequences of this inequality are far-reaching and devastating, leading to poverty, social unrest, and a lack of opportunity for the majority of the world's population.
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