Inequalities in wealth

Emily Young
Mind Map by Emily Young, updated more than 1 year ago
Emily Young
Created by Emily Young over 6 years ago
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Description

A mind map outlining key facts in relation to the OCR Humanities A2 G103 module, theme 1

Resource summary

Inequalities in wealth
  1. Incidence of disparities
    1. between nations
      1. GDP PPP DRC
        1. 800
        2. GDP PPP Qatar
          1. 136,000
          2. Wealth is concentrated in West / Northern America
            1. Info from Oxfam
            2. Within nations
              1. UK richest familes own equal to poorest 30% - Oxfam
            3. Why is it happening?
              1. Different political / historical systems
                1. Former soviet
                2. Economic dominance
                  1. Ford
                    1. Richer than South Africa
                    2. Glencore
                      1. 29 billion dollars of copper taken from Zambia over last 10 years
                      2. Tiger Woods
                        1. Paid more than most of Indonesian workforce
                      3. Countries burden of debt
                        1. Zambia - 1 dollar aid - 10 dollars debt payment
                      4. What's being done?
                        1. Foriegn aid
                          1. 1 dollar in 10 dollars out - Zambia
                          2. Fair trade
                            1. FLO monitors supply chain to maintain standards
                              1. Is it helping
                                1. Yes - FLO said workers got an extra 100million dollars in 2004 because of fair trade
                                  1. No - Economist - abolishing agricultural subsidies in the West would help much more (24 billion dollars)
                              2. Debt
                                1. IMF
                                  1. Len 24 billion to Suharto / Indonesia (1/3 went to his friends and family) People today must pay back 100,000 dollars a day yet live in poverty
                                2. Changes in law on tax
                                  1. Tax avoidance cost 160 billion dollars last year (according to Why Poverty)
                                  2. WTO
                                    1. positives
                                      1. disputes can be dealt with independently
                                        1. obverts war
                                        2. negatives
                                          1. Independent of governments - big businesses can call the shots
                                            1. Embryo World Government - Economist
                                          2. Free trade
                                            1. positives
                                              1. cheaper food
                                                1. more consumer choice
                                                  1. trade stimulates economic growth
                                                  2. negatives
                                                    1. Mexico / USA corn subsidy
                                                      1. developing countries take longer to see benefits
                                                  3. How commited are wealthy nations in helping the poor?
                                                    1. Oxfam
                                                      1. 2015 half global wealth held by 1%
                                                      2. MDG 1 - eradicate extreme poverty and hunger
                                                        1. target of halving poverty met before 2015
                                                          1. 1.2 billion still in poverty
                                                          2. Greece
                                                            1. European countries reluctant to bail out and cut Greek debts
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