The World Bank's latest poverty figures underline
the fact that globalisation has been largely ineffective at either reducing the
burgeoning ranks of the world's poor, or including this vast swathe of the
global population into the mainstream economy, writes Adam W. Parsons.
As if to demonstrate that poverty is now a residual issue in the world, the poor are being slowly eliminated from the imagery of the busy global media.
In its most recent World Economic Outlook even the International Monetary Fund (IMF) dealt with the issue of "globalisation and inequality". In the last two decades, according to the IMF, income inequality has increased in most regions and in most countries worldwide.
There is a “mystery” we must explain: How is it that as corporate investments and foreign aid and international loans to poor countries have increased dramatically throughout the world over the last half century, so has poverty?
Some people, at year's end, like to spread holiday cheer. The world might do better, suggests a landmark new report from the United Nations University in Helsinki, to start spreading wealth.