By having an economic influence, the country can also have a large number of companies and economic self-sufficiency. Trade is one of the key ways in which superpowers make money. Most world trade takes places between Europe, North America and Asia. This is trade in goods and services and is high value. It earns money for global TNCs, the majority of which are from the developed world.
Evidently there is an unequal relationship between the north and south, which could be mainly due to the fact many of the southern countries were owned by the north in the past. The level of consumption differs greatly between the north and south. The northern countries tend to be more developed, with larger and more stable economies, which result in most of the population sustaining a higher standard of living and having more money to spend on goods and services. The north also has an excess of Transnational Corporations which encourage the high consumption levels. Whereas in the south; large percentages of the population cannot afford to buy goods which are not absolutely necessary, as they live in poverty.
The USA are making money all around the world as well as improving the economies of all of these countries as it provides millions upon millions of jobs and also improves infrastructure for factories. Not only do the USA have global economic influence, but they are also spreading their Western culture and lifestyle which attracts many foreign countries due to the supposedly laid
Purchasing Power Parity (PPP) is also not taken into account with income per capita; this means that the cost of living in each country is not accounted for so development may appear better in some countries than it actually is. Income per capita can be used to measure the economic and social development, but not any of the other factors of development, such as environmental development. Development can be further measured by income inequality. This can be a useful measurement as it shows the differences between the rich and poor. The greater the inequality, gap between the rich and poor, the worse developed the country is.
Poverty is the state for the majority of the world’s people and nations. Global decisions, policies, and practices are typically influenced, driven, or formulated by the rich and powerful. As a result, a few get wealthy while the majority struggle. Globalization has contributed to growing inequality across countries and to social and economic exclusion and marginalization. According to Iceland, “The poorest 20% of the global population has not benefited much from general improvements.
According to an article in Slate On, the poor and low income people in our society are more overweight than the wealthy. This psychological behavior transcends to other cultures as well, telling me that people don’t really want equality but superiority. Regardless of the parts of the world you are from, someone always wants to feel superior to someone else. Though Americans did inherit the “wanting more” trait from the frontier opportunities, there were an influx of other nationalities flocking to America for the same opportunities (82). Likewise, they too have adopted the “hunger for more” mentality because they are financially able to adopt the psychological want.
This is usually due to the high amounts of discrimination that African Americans are to face on a daily basis versus any other race. On to the economics of this video, it pointed out that economic policy is health policy. Because the government reduced the taxes for the wealthy, it is making it impossible for the poor to obtain any wealth. The gap between poor and rich in America is surprisingly wide, and impossible to ascend. The video also talked about how the average American has gone nowhere, while the rich are getting richer, and the middle class is getting squeezed, and the poor are getting poorer.
This belief is somewhat consistent with the famous idea of the American dream, which is to achieve instant wealth or fame. Because America is the strongest nation in the world from, many people believe that this wealthy and powerful nation would help them withdraw their beautiful dreams. Therefore, the American dream attracts millions of talented people to come and make contributions to this nation. However, there are also some unexpected features included in the American dream, and people have to experience and face both good and bad aspects of the American dream. The essential concept of the American dream is to offer citizens a nation that provides liberty, peace, and happiness.
For example, $15 billion was given to companies to offset losses. The rich, those making $250,000 or more, should not have tax incentives because they already have enough money. The rich can afford to pay more due to having more. It is the middle class and the poor who struggle in this economy and not the rich, according to this argument. Although it is the rich who employ the middle class and the poor, the rich are also accused of holding on to their money and not spending it while those with less money would be required to spend their money due to their intense need
If you pump in millions of new workers seeking jobs, it decreases the amount of work available. Plus, the laws of economic supply and demand will push the wages down far from what they would be. Another con is that immigrants, especially the poorer ones, consume a high amount of government resources like health care, education, welfare, etc. without paying a corresponding high rate of taxes. Almost all immigrants will start out earning very low wages, and unless they get additional education or training, they will likely