Globalization is focusing on both integrations of both economies and various societies in the world. It generally ranges from various kind of problem-related to trade and services, movement of capital, poverty of world population (Briske et al., 2015). It will help in mitigation to some easier transport and communication all over the world. It can be defined as a complex method which can easily affect the lives along with increasing economic dependency. The whole method of globalization can easily affect by various factors like political, economic, natural and legal factors (Babaci-Wilhite & Geo-JaJa, 2018). Globalization plays a key role in development all over the globe, which is one of the main goals behind the reduction of poverty (Meagher, 2016). Poverty in many cases can be easily explained as the scarcity or a situation on where person can easily lack material or money. It can be easily defined as a community or person which is needed for enjoying the minimum standard of life (Dabla-Norris et al., 2015).
According to Schmukler and Abraham, (2017), there is a large number of debates on both the topic that is globalization and poverty. By analyzing the whole method of globalization as it is an important factor for growth. There is various type of claim which is needed for the development of community on the value on which the progression can be easily made. Different researchers are claiming the fact that overall poverty is on decline while others are claiming the fact that the poverty is on rise.
As per Leichenko & Silva, (2014), in the last few years, there has been an increase in the rise of trade and capital flow, increasing the numbers of the multinational cooperation. The increase in culture have not silenced there are a large number of public debate over the advantages of globalization. The fact should be noted that the debate tends to create an increasing claim which is of unreasonable degree between policies and various kind of trend in poverty. Globalization part which tends to claim various kind of African issues due to any kind of lack of openness along with any kind of government intervention. The fact should be taken into consideration that globalization has made the living condition has degraded for both the poor. The government service has cut back and improved the stability.
Giddens, (2018) states that proponents can easily advocate that the overall poverty is on decline. It has taken place due to power of globalization which is needed for importance in globalization which is main component for the battle against poverty. Globalization can be easily stated as one controversial process. Various policy maker and economist considered globalization as the key component for bringing prosperity to large number of people located on worldwide platform. While taking into account the effect of globalization on the world poverty, there has been argument which is totally in the favor for energy growth. Various research suggests that there should be proper linkage between globalization and development of attribute. It is considered to be an important aspect of globalization like liberation which will helpful in liberalization. This will ultimately lead to faster integration and growth. It can be easily analyzed that the growth can easily take place due to globalization which tends to create a positive effect on the world poverty. The policies of liberation of various policies are mainly responsible for various kinds of improvement of world poverty by growth. Globalization can easily effect on the various kind of growth and has played a key role in lifting large number of people outside the poverty in last the few years.
Alvarez, Barney and Newman, (2015) defines globalization as the spread of knowledge, division of labor in better way, increasing the overall productivity and lastly focusing indirect investment. It is a vital drive which is considered to be important for growth and has created some vital growth in the human welfare in the last few years. There are many reasons behind the growth in globalization like openness of various international trade and development of various financial market. It tends to have little systematic outcome which is all about share of income based on lower quintile. It has been observed that stabilization can easily take place from both high inflation and reducing the overall size of the government bodies. It has been observed that globalization has reduced the poverty to a large extent. It has provided certain number of policies which can be used for reducing the poverty to a large extent. It can easily provide certain number of benefits which can be used for harnessing benefit.
According to Cohn, (2016), a major region of the world has experienced a huge amount of growth and improvement in the living standard. In some of the aspect, it can be easily observed that globalization as a method by which power is generally concentrated in away from some poor section of the society. In some of the aspect, it can be seen that various firms are focusing to engage a lopsided in both political and power of market. Various critics of globalization are coming up with the opinion that the organization can easily make use of increase power in such a way that they will profit themselves and harm the people who are poor. For understanding the effect of globalization on poverty various researchers have adopted theories which are needed for examining the income distribution. The analysis is done on the living standard of people living in the developing countries as a single unit. It is further classified into groups in the developing countries that is globalized and not globalized. Various researchers have concluded the fact that the income of the real person grew and flourished in some of the developed countries. For understanding the estimation based on some of the real income in the domain of certain measures that is central tendency. It can be stated as the combination of ratio between both developed and developing along with reducing in the given period.
According to Corbett and Fikkert, (2014), there is no evidence about the fact that globalization is generally associated with high value of poverty in the various developing zones or countries. It has been analyzed that less restriction is seen with lower level of poverty when both the informal and rural sector plays a key role. It has been analyzed that the main notion is decreasing the effect of poverty that is not mediated through growth channel. Apart from this, there are programs which are based on economic liberalization in the last few years. The analysis focus on underlying premises which is based on current and previous reduction of poverty. The whole reduction in poverty can be gathered with the help of proper economic integration which is encountered in the various levels of globalization. There is certain number of evidence which highlight the fact that globalization people are very much interested in optical policy. It is needed for providing advantages to the poor along with reducing the impact of any kind of subgroup of the poor. It is also seen that they are very much interested in growth in various platform like social, economic and environmental sustainability.
According to Darling-Hammond, (2015), In the last 100 years, global inequality is considered to be successful measures which are developing. The ratio of the average income in between the richest to the poorest people in the country has increased from 9 to 1. The century-long is focusing on increase in inequity which is the result of simple reality. In the last few years, there has been tremendous amount of growth in income in two organizations that are China and India. Considering the level of the world it can be unfair to say that inequality has not increased and the poverty is declining at a rapid rate. The value or extent of inequality is increasing in some of the organization. If the given equality is measured as the increasing ratio between income of the richest and poorest person within the countries. The mainstream of economist emphasizes the fact that globalization is not a culprit.
Conclusion
From the above discussion, it can be easily concluded that this essay is all about the effect of globalization. The overall poverty of the world is declining at a rapid rate and inequality is emphasizing on good outcome. But is not a good sign for the global economy. Even due to large number of profit, there can be large number of reason behind the development of inequality which is considered to be high and yielding. There are many kinds of social and physiological cost which have increased the security of the organization. Asymmetric globalization has resulted in the creation of some daunting challenge to various global activity.
References
Alvarez, S. A., Barney, J. B., & Newman, A. M. (2015). The poverty problem and the industrialization solution. Asia Pacific Journal of Management, 32(1), 23-37.
Babaci-Wilhite, Z., & Geo-JaJa, M. A. (2018). A critique and rethink of modern education in Africa’s development in the 21st century. Papers in education and development, (30).
Briske, D. D., Zhao, M., Han, G., Xiu, C., Kemp, D. R., Willms, W., … & Han, X. (2015). Strategies to alleviate poverty and grassland degradation in Inner Mongolia: Intensification vs production efficiency of livestock systems. Journal of environmental management, 152, 177-182.
Cohn, T. H. (2016). Global political economy: Theory and practice. Routledge.
Corbett, S., & Fikkert, B. (2014). When helping hurts: How to alleviate poverty without hurting the poor… and yourself. Moody Publishers.
Dabla-Norris, M. E., Kochhar, M. K., Suphaphiphat, M. N., Ricka, M. F., & Tsounta, E. (2015). Causes and consequences of income inequality: a global perspective. International Monetary Fund.
Darling-Hammond, L. (2015). The flat world and education: How America’s commitment to equity will determine our future. Teachers College Press.
Giddens, A. (2018). Globalization. In Sociology of Globalization (pp. 19-26). Routledge.
Karnani, A. (2017). Marketing and Poverty Alleviation: The Perspective of the Poor. Markets, Globalization & Development Review, 2(1).
Leichenko, R., & Silva, J. A. (2014). Climate change and poverty: vulnerability, impacts, and alleviation strategies. Wiley Interdisciplinary Reviews: Climate Change, 5(4), 539-556.
Meagher, K. (2016). The scramble for Africans: Demography, globalisation and Africa’s informal labour markets. The Journal of Development Studies, 52(4), 483-497.
Schmukler, S. L., & Abraham, F. (2017). Financial Globalization.
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