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Notes on Prosperity, Poverty, and Inequality in the Era of Globalization

Author

Listed:
  • Vlados, Charis

    (Democritus University of Thrace, Department of Economics)

  • Chatzinikolaou, Dimos

    (Democritus University of Thrace, Department of Economics)

Abstract

A common question in academic debates is whether globalization exacerbates poverty and inequality on the planet. Many argue that globalization is indeed a force for adverse developments for humanity. The purpose of this study is to discuss the extent to which these approaches are valid. To achieve this goal, we first consider some valuable contributions to the study of the phenomena of poverty and inequality, and then we examine their statistical imprints throughout history by using available data. Empirical evidence does not show a dramatic increase in poverty or inequality, especially in the less developed countries on the planet: they reveal the opposite. In conclusion, we present some misconceptions in the articulation of a contemporary economic policy that appear to hinder effective solutions to tackle poverty and inequality.

Suggested Citation

  • Vlados, Charis & Chatzinikolaou, Dimos, 2019. "Notes on Prosperity, Poverty, and Inequality in the Era of Globalization," DUTH Research Papers in Economics 35-2019, Democritus University of Thrace, Department of Economics.
    • Handle: RePEc:ris:duthrp:2019_035
    Note: Journal of Economics Bibliography. Vol. 6, No. 4, pp. 288-308
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    More about this item

    Keywords

    Poverty; Inequality; Globalization; Misconceptions;
    All these keywords.

    JEL classification:

    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
    • F63 - International Economics - - Economic Impacts of Globalization - - - Economic Development
    • I39 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Other

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