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Commentary :: Economy : Globalization : Poverty

Poverty & Inequality in the Global Economy. By Michael Yates

Capitalism is 100s of years old and dominates most of the globe. Its advocates say it is the greatest engine of production growth ever seen and argue that it is unique in its ability to raise the standard of living of every person on earth. But given the long tenure of capitalism and the claims of its adherents, it seems fair to ask if it is making the best of all possible worlds. Michael Yates suggests we examine such claims: the extent of poverty and inequality in the richest capitalist economy--the US--and the extent of poverty and inequality in the poor countries of the world.

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