6.

Deliberate global economic

issues(economic inequality and poverty)
The Global inequality of opportunity in today's world is the consequence of lobal inequality in
health,wealth,education and the many other dimensions that matter for our lives.your living conditions
are much more determined bywhat is outside your control-the place and the time that you are born
into-than by your own effort,dedications,and the choices you have made in life.(Max Roser)

Dispite rapid advancement in standards of living for large proportion of world population in recent
decades,an unacceptable nember of people are still denied access to the basic necessities of life.even if
the milennium development goals for halving extreme poverty is met,around one billion people will
officially live without adequate means for survival in 2015-Although unoffical estimated are ever higher.

Altogether,95% of people who live in developing countries survive on the equivalent of less than $10
aday(comperable to what$10 would buy in the United states)-an almost impossible task for someone
living in high income country.

Tody, highly biased regime of international trade,finance and taxation mean that atleast ten times as
much finance flow from developing countries to the rich world than is provided by donor governments
as overseas aid.As result of these unjust arrangements of the global economy,the wealthiest 20 percent
of the world's enjoy nearly 83 percent of total global income,whereas the poorst 20 percent receive
amere 1 percent. In recent years,this concentration of wealth has become increasingly extreme,with
one percent of the richest people in the world owning $110 brillon- 65 times the total wealth of bottom
half of the world's population.

persistent inequality and enduring poverity challenge beliefs in the opportunity and the
possibility of upward mobility.Eventually, the legitimancy of economic system and political and
social institution are challenged.extreme inequality perpetuates poverty and the concentration
of economic and political power and reduce economic efficiency.It strengthens inequality-
perpetuating institutions in three ways:
1,Inequality discourages the political participation of poor people, which, in turn,
diminishes their access to education, health care, and other services that contribute to
economic growth and development.
2,Inequality often prevents the building and proper functioning of impartial institutions
and observance of the rule of law.
3,Inequality enables the wealthy to refuse to compromise politically or economically,
which further weakens poor societies in a global society that
requires relatively fast responses to economic developments.
As global justice campaigners often repeat, the underlying causes of this gross inequality
are political in nature as they stem from the policy choise that goverments make the
institutions that govern economic relation ship,and the unrivalled power and influence
of the world's largest corporations.
In order to tackle this growing crisis of poverty amidst plentry;for greater emphasis must
be placed on reforming the unjust policies and institutions that mantain adivided and
increasing unequal world.without reforming these structural codition,international aid
and other forms of financial redistribution will never be an adequate means for ending
poverty or reducing the gap between rich and poor.If global economy is to serve the
interest of all people,it must be primarly geared towards guaranteeing the fulfillment of
social and economic right in perpetuity-founded up on agenuine form of miltilateral
cooperation and economic sharing.