Globalization
Social inequality

The economies of the world have developed unevenly, historically, such that entire geographical regions were left mired in poverty and disease while others began to reduce poverty and disease on a wholesale basis. From around 1980 through at least 2011, the GDP gap, while still wide, appeared to be closing and, in some more rapidly developing countries, life expectancies began to rise. If we look at the Gini coefficient for world income, since the late 1980s, the gap between some regions has markedly narrowed—between Asia and the advanced economies of the West, for example—but huge gaps remain globally. Overall equality across humanity, considered as individuals, has improved very little. Within the decade between 2003 and 2013, income inequality grew even in traditionally egalitarian countries like Germany, Sweden and Denmark. With a few exceptions—France, Japan, Spain—the top 10 percent of earners in most advanced economies raced ahead, while the bottom 10 percent fell further behind. By 2013, 85 multibillionaires had amassed wealth equivalent to all the wealth owned by the poorest half (3.5 billion) of the world's total population of 7 billion.

Critics of globalization argue that globalization results in weak labor unions: the surplus in cheap labor coupled with an ever-growing number of companies in transition weakened labor unions in high-cost areas. Unions become less effective and workers their enthusiasm for unions when membership begins to decline. They also cite an increase in the exploitation of child labor: countries with weak protections for children are vulnerable to infestation by rogue companies and criminal gangs who exploit them. Examples include quarrying, salvage, and farm work as well as trafficking, bondage, forced labor, prostitution and pornography.

Women often participate in the workforce in precarious work, including export-oriented employment. Evidence suggests that while globalization has expanded women's access to employment, the long-term goal of transforming gender inequalities remains unmet and appears unattainable without regulation of capital and a reorientation and expansion of the state's role in funding public goods and providing a social safety net. Furthermore, the intersectionality of gender, race, class, can be overlooked by scholars and commentators when assessing the impact of globalization.

In 2016, a study published by the IMF posited that neoliberalism, the ideological backbone of contemporary globalized capitalism, has been "oversold", with the benefits of neoliberal policies being "fairly difficult to establish when looking at a broad group of countries" and the costs, most significantly higher income inequality within nations, "hurt the level and sustainability of growth."
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