Saturday, January 21, 2012

Blog 1: UN finds global inequalities rising

A report done this year by the United Nations suggests that poverty and global inequality is on the rise. Although living standards have steadily improved there has been a further increase in the gap between nations in poverty and wealthy nations. Many of the people who wrote the report stated that the focus on economic growth has been hindering global development and social improvement. The report was drawn up by the U.N. Economic and Social Affairs department, to address the widening gap between rich and poor throughout the world but especially in developing countries. The report went on further to say that the 2.8 billion people living in poverty would never be able to match consumption levels due to the wages that they live off of daily. The U.N. secretary general addressed the report and said that development could not progress unless the issue of inequality was addressed. The report finishes by saying that there should be expanded opportunities for productive employment, including marginalized groups and distributing benefits to the worldwide economy.

When thinking about global inequality in the context of how bad the conditions are around the world. It is clear to see that many developing countries are in dire need to improve their social inequalities. This report really brings to light that even though people are thinking that conditions are improving around the world, the reality is that they are in fact not and are increasingly lacking compared to that of the upper class. I find it abysmal that so many people are content with these practices that keep these countries in poor economic standings. Institutions like the WTO and other organizations that govern or loan money to these countries put ridiculously high interest rates that in turn make those countries pay back more than they were loaned by large amounts. Hopefully people will recognize that these issues are ones that need to be addressed and it will in turn benefit us all.

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