Why The Rich Get Richer And The Poor Get Poorer?

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Recommended: Impact Of Globalization On Developing Countries

Thanks to Globalization the Lives of Working Poor are Worse than in the Past Globalization has already existed in the world long time ago. Thus, it is not a brand new phenomenon for human beings. However, it has rapidly increased from last few decades. Therefore, the influences of globalization to us are more obviously. According to the article from World Health Organization, globalization is generally recognized into two interrelated components: the opening of borders to progressively fast flows of products, services, economy, people and ideas across international borders; and the alterations in institutional and policy authorities at the international and national levels, which facilitate or promote their circulations. Indeed, by seeing the outside of the effect about globalization is positive because it can make the world more mobility, but it actually is more negative to the human beings. Especially the working poor ranges from developing countries to developed countries. According to the article, “The Working Poor: Invisible …show more content…

According to a video, “Why the rich get richer and the poor get poorer” by CBC News, Canada is currently facing severe inequality than in the past. According to their research from Statistics Canada, the top 20% richest Canadians have $1,380,000 medians net worth in 2012, which has sharply increased from $763,000 in 1999. Meanwhile, the median net worth of the bottom 20% Canadians has actually gotten smaller since 1999’s $1300 decreased to $1100 in 2012. Some experts calls this phenomenon as a Downton Abbey economy, which means among our population that only one percent is the wealthy class and the rest of people belong to a huge class of poor workers. In light of this, due to globalization, only the upper class people become wealthier and those impoverished working poor become

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