Globalization and poverty

Abstract

Globalization is a long-standing, multidirectional historical process rather than a contemporary Western imposition. Its historical contributions to science, technology, and mathematics demonstrate a shared global heritage that predates modern economic structures. While the market mechanism is essential for generating prosperity, its outcomes are fundamentally determined by the institutional framework within which it operates, including resource distribution, social opportunities, and legal regulations. Contemporary assessments of globalization frequently focus on whether the poor are absolute losers, yet the more pertinent evaluative concern is the fairness of the distribution of joint gains and the persistence of massive global inequality. Achieving a more equitable order requires the strengthening of non-market institutions, such as participatory democracy and reformed intellectual property regimes that prioritize public health over patent royalties. Furthermore, addressing the global arms trade and modernizing international financial architectures are necessary interventions to ensure that the benefits of global integration are shared more justly. The rise of global protest movements signals an urgent need for institutional adaptation and the creation of countervailing powers to align economic integration with contemporary ethical demands. – AI-generated abstract.