Sociology Assignment: Analyzing Globalization, Poverty, and Inequality

This essay delves into the complex relationship between economic globalization, poverty, and inequality, examining its effects on both developed and less developed societies. The analysis highlights that while globalization offers opportunities for international trade and economic growth, it also contributes to global inequalities by enabling multinational corporations to exploit resources and labor in developing nations. The essay discusses how economic globalization is responsible for increasing global inequalities and social stratification. It also explores the role of multinational corporations in shaping these inequalities and the impact of globalization on social stratification, particularly in developing nations. The essay references the work of the World Economic Forum and the Center for Global Development to support its claims, concluding that globalization may exacerbate poverty in the future due to income inequalities.

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sociology
[Type the document subtitle]
3/26/2020
student name

Sociology 1
Globalization
Considering the topic of discussion of economic globalisation the question arises if this is
responsible for increasing poverty and inequalities among the developed societies and less
developed societies. The analysis reflect that globalisation has positive as well as negative
impact on the society, considering the increase of poverty it can be said that the economic
globalisation is definitely responsible for global inequalities as this has provided opportunity
to the companies to trade among the international markets, but considering the prices,
Purchasing power of the consumers and the business to be conduct overseas would be
increasing the poverty as the poor will not be able to consider conducting business overseas
or purchasing goods and improving the lifestyle from the globalised or multinational
corporations working internationally. Therefore it can be said that it is increasing poverty that
is making poorer more poor and Richer are getting rich. Moreover the economy globalisation
does not found to be contribute majorly to the poor countries, it is responsible for increase in
GDP of the company and purchasing power of the consumers and help in proving human
development index of the country but not essentially improving the poverty line that is the
number of people under poverty line a still increasing for these countries (weforum.org,
2020).
The contribution of globalisation in reshaping the social stratifications reflects that the nature
of social stratification depicting social economic inequality. It has been identified that
globalisation has cost more stratification considering the social classes creating
Differentiation among developing economies and the developed ones where the companies
are able to use sources including raw materials and labour at cheap resources. Moreover the
production processes are conducted in developing nations so as to gain natural resources from

Sociology 2
that nation and increase the production quantity. Therefore it can be said that the result of
globalisation is to increase in social stratification.
From the analysis it can be said that in near future economic globalisation could be a major
cause for increase in global poverty due to income inequalities identified in most of the
countries especially with the highest percentage in India and China (cgdev, 2019).

Sociology 3
References
cgdev, 2019. globalization-and-inequality. [Online] Available at:
https://www.cgdev.org/article/globalization-and-inequality.
weforum.org, 2020. the-new-globalisation-and-income-inequality. [Online] Available at:
https://www.weforum.org/agenda/2019/05/the-new-globalisation-and-income-inequality.