The state of global disparities
I read with much interest the article titled "The state of global disparities" published in The Daily Star editorial page on June 16, 2011. The writer has very well explained the economic disparity that countries have in various dimensions. He did not discuss the diverse reasons which caused such disparities.
Diversity in natural endowment, political background, degree of colonization, political advancement, access to the sea, institutional development, entrepreneurship, trade acumen, ability to produce things which people beyond the border will buy, cultural state which bring women to the mainstream workforce, internal mechanism which puts corruption in check etc. etc.
If we take the example of a man staying in Gulshan and below near the waterline of the lake are 10 shanties where people earn less than 100th of his daily income, in what formula will he agree to siphon his income/wealth so that their position is up? Will he agree at all? (This is not personalizing, this is an easy simple example).
The earthly feeling of power and greed will stay in this world and people will try to be richer and richer. It is the state's responsibility to redistribute the income by fiscal and monetary intervention. Institutions like World Bank, WTO, IMF should be controlled more by leaders of developing countries who genuinely will represent the poor people. That way we can have a new kind of world order!
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