Summarize wealth and poverty in a global perspective

Question

What will be an ideal response?

Answer 1

Global stratification refers to the unequal distribution of wealth, power,

and prestige on a global basis, resulting in people having vastly different

lifestyles and life chances both within and among the nations of the world.

The world is divided into unequal segments characterized by extreme

differences in wealth and poverty. High-income countries are nations

characterized by highly industrialized economies, technologically

advanced industrial, administrative, and service occupations; and

relatively high levels of national and per capita (per person) income. In

contrast, middle-income countries are nations with industrializing

economies, particularly in urban areas and moderate levels of national

and personal income. Low-income countries are primarily agrarian

nations with little industrialization and low levels of national and personal

income. Just as the differences between the richest and poorest people

in the world have increased, the gap in global income differences

between rich and poor countries has continued to widen over the past fifty

years. Social inequality, which may result from factors such as

discrimination based on race, ethnicity, gender, or religion, exacerbates

problems of economic inequality. Social inequality and economic

inequality are the main causes of the poverty of a nation; therefore, a

society must have greater social equality among its citizens as a

precondition for the entire country getting out of poverty.