Journal of Economics and Economic Education Research (Print ISSN: 1533-3590; Online ISSN: 1533-3604)

Abstract

Globalization and Income Inequality: Assessing Economic Disparities in the 21st Century

Author(s): Lei Petersen

Globalization has profoundly reshaped economies, societies, and policies worldwide, fostering connectivity and economic growth. However, this interconnectedness has also led to significant income inequality, creating economic disparities within and between countries. This article explores how globalization affects income distribution, examining both positive impacts, such as economic development and job creation, and negative consequences, such as wage stagnation and economic concentration in wealthier nations. By analyzing these complex relationships, this paper highlights how policies targeting fair trade, tax reforms, and educational access can mitigate the adverse effects of globalization on income inequality. Ultimately, understanding the multifaceted dynamics between globalization and economic inequality can help shape policies for a more equitable global economy in the 21st century

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