2225 Midterm Readings Review - Does globalization generate...

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Does globalization generate poverty? - Sachs: The Spread of economic prosperity o Gap between rich and poor opened during modern economic growth Some parts of the world achieved growth and others did not Overall increase in world wealth, but at different rates, small differences have accumulated over 2 centuries to be big Poorest countries didn’t begin growth until decades later, if it has started at all - Stiglitz: The Promise of Global Institutions o Globalization gen erally brings about good things, but it is b eing used irresponsibly by the rich countries Global governance without global govern m ent World Bank a nd WTO are few organizations m a d e to h elp de al with this, yet they countries d ecisions Possible to create new syste m where growth is not only sustained, but e qu ally distributed - Seabrook: Defining Poverty o Hunger and famine are m ost potent sy mbols of poverty Scarcity is not proble m, but lack of purchasing power o Relative poverty, rich poverty, loss of wealth, rural poverty, b eing alone Is the increase in earnings inequality the result of technology? - Ehrenberg and Smith: Overview of the Labor Market - Ehrenberg and Smith: Inequality in Earnings o Variance is most com mon m e asure of dispersion o Possible explanations for increase in inequality Destruction of middle paying jobs and replace m ent with both higher and lower p aying ones possible explanation of inequality Chang es in relative wages: rising payoff of college education
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Relative changes in hours of work Changes in earnings within a narrowly defined human capital
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2225 Midterm Readings Review - Does globalization generate...

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