The Complexity of Global Economic Disparity and Integration of Countries
Journal: International Journal of Multidisciplinary Research and Publications (Vol.1, No. 11)Publication Date: 2019-05-15
Authors : Helen P. Garcia Demetria May T. Saniel;
Page : 20-23
Keywords : ;
Abstract
Over the years, record shows that while the economy grows, the gap between the rich and poor widened. The issue on economic disparity is even elevated as one of the eight millennium development goals of United Nations because the organization had seen its adverse effects. This paper explored the emergent economic behaviour of countries in global economic disparities. The main method of research utilized in this study is Complex Adaptive Analysis. While being primarily descriptive-analytical, the CAS approach enables the researcher to investigate self-organizing behaviors that emerge out of local agent interactions. Data sets used in this study were GDP and GINI from open database of World Bank and global finance. The study found out two emergent behaviors, first, the richness or poorness of a country has no bearing on income disparity. This feature implied that national productivity is not concerned with stabilizing wealth distribution. Another feature revealed in this study was on the variations of GINI index in OECD countries or rich nations. The variation reveals that the wealth is more properly distributed in richer nations than the developing countries. Therefore, as Gross National Product increases, countries will open access to more economic opportunities thereby decreasing income disparity. A nation with high Gross Domestic Product have lower gaps between rich and poor therefore economic opportunities are better and income distribution are likely to be even.
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