Global Inequality

Global Inequality

Global inequality has often been measured from the standpoint of the developed versus the developing countries; what is also otherwise known as the UN Human Development Index. Invariably, the picture that one obtains is global inequality from the standpoint of two clusters of countries; arrayed against each other diametrically.

While the data from the above is useful, it isn't enough to give a complete picture of globalization. One, to what degree has inequality increased within a country, even rich ones ? Two, to what degree has the inequality been rolled back to 1900, as Richard Baldwin argues, is now the case. Three, more importantly, can the inequality be resolved with any policy measures both within countries and between them ? Are there in need any of any UN Global Compact, as former UN Secretary General Kofi Annan insists ?

If one were to do away with the UN Global Compact, so goes the UN Global Reporting Initiative too, which seeks to understand if the corporate sector has been making any contributions in their corporate social responsibilities ?

This book provides a lot of empirical data on how the issues can be approached. By so doing, in concludes without major doubt that global inequality is increasing within and between nations since the end of the Cold War. Surplus labor from China and India have driven the wages down. To the degree the creme de la creme from these markets have risen to the top, their vast numbers have displaced the elites in smaller countries, especially the member states of ASEAN. Singapore, in particular, has deployed the talents of China and India aggressively, while neglecting the local talents at work. Not surprisingly, the income gaps between different classes of people in the city state, have widened significantly.

The latter has triggered a paper-chase. Students and adult learners have tried to buck the trend by studying for more degrees and disciplines. Some have even combined law, political science and economics to enhance one's employment prospect in the market place; as is the pathway offered by the Singapore Management University.