The advent of globalization in 1800s opened a vast number of business opportunities. During the 1950s and 1960s when industrial capitalization led its way into the world, it did nothing much to improve the wealth distribution. The rich were getting richer while the poorer were getting poorer.
The bloom in industrial capitalization has mostly benefited the affluent classes and the lower classes gained nothing significant from it. For example, between 1960s and 1970s the condition of Iran grew worse. The opulent classes got wealthier from the oil trade whereas, the indigent workers suffered from hunger and poverty. The dearth of employment for all, further exacerbated the situation.
Another reason for concentrated wealth distribution is, the lack of proper education. In most of the countries, education is quite expensive and often beyond the reach of the deprived classes. To overcome such conditions governmental interference is required. Ideally, governments should subsidize the cost of education in order to promote it. Some governments have already taken hefty measures to make sure everyone gets education. They have offered free meals for students who will go to schools. If governments are incapable of providing monetary benefits then they should at least reserve seats for such people. Education can provide employment to needy people. They should also initiate programs promoting skills especially those who are uneducated.
Even wealth distribution is only plausible if government creates concrete policies ensuring the well-being of needy people. Some laws regarding appropriate pay and employment must be enacted. Government should strictly supervise companies that are responsible in providing employment.
The advent of globalization
in 1800s
opened a vast number of business opportunities. During the 1950s and 1960s when industrial capitalization led its way into the world, it did nothing much to
improve
the wealth distribution. The rich were getting richer while the poorer were getting poorer.
The bloom in industrial capitalization has
mostly
benefited the affluent
classes
and the lower
classes
gained nothing significant from it.
For example
, between 1960s and 1970s the condition of Iran grew worse. The opulent
classes
got
wealthier from the oil trade whereas, the indigent workers suffered from hunger and poverty. The dearth of
employment
for all,
further
exacerbated the situation.
Another reason for concentrated wealth distribution is, the lack of proper
education
. In most of the countries,
education
is quite expensive and
often
beyond the reach of the deprived
classes
. To overcome such conditions governmental interference
is required
.
Ideally
,
governments
should subsidize the cost of
education
in order to promote it.
Some
governments
have already taken hefty measures to
make
sure everyone
gets
education
. They have offered free meals for students who will go to schools. If
governments
are incapable of providing monetary benefits then they should at least reserve seats for such
people
.
Education
can provide
employment
to needy
people
. They should
also
initiate programs promoting
skills
especially
those who
are uneducated
.
Even wealth distribution is
only
plausible if
government
creates concrete policies ensuring the well-being of needy
people
.
Some
laws regarding appropriate pay and
employment
must
be enacted
.
Government
should
strictly
supervise
companies
that are responsible in providing
employment
.