Does globalization have to mean massive inequality? Maybe not — there's a better way

If globalization remains a nebulous concept, its negative repercussions may today seem more plain than ever. For instance, when comparing changes in equality in the U.S. and Europe since 1980, the United States’ comparatively much larger increase in inequality can be traced to America’s decisions in key policy areas concerning inequality – the undermining of the income tax, the cost of higher education, a grievously outdated minimum wage and the denial of universal health care. To a great extent, this short-termism can be attributed to the imperatives of short electoral cycles – especially in the West, policy-makers don’t serve long enough terms to tackle complex social and economic issues. In the face of growing isolationism, the world’s leaders must recommit to multilateral governance ensuring fair trade, safeguarding human rights and promoting just social policies. To do so, we must introduce progressive social welfare policies, in particular, universal health care and legislation raising the minimum wage to reflect costs of living.