Overview
The impact of globalization on economic inequality is complex and multifaceted. While globalization can drive economic growth and create opportunities, it can also exacerbate disparities in wealth and resources. Factors such as labor market dynamics, trade policies, and technological advancements pl...
Key Terms
Example: The rise of multinational corporations is a result of globalization.
Example: Income inequality is a common form of economic inequality.
Example: The wealth distribution in a country can indicate its level of inequality.
Example: Globalization can affect labor markets by shifting jobs to different countries.
Example: NAFTA is a trade agreement that impacted economic relations in North America.
Example: Progressive taxation is a form of redistribution policy.