Is it possible to have worldwide economic equality?

Question

Do some countries have to be poor in order for others to be rich or can we all be rich? What would have to happen to achieve this?

Answer 1

No, contrary to Jesus' statement, the poor are not necessary for the rich and they need not be with us forever. Poverty is a direct function of productivity. As such, education, property rights and corruption are the primary determinants of wage globally. Raise the level of personal productivity and you permanently eliminate some poverty.

Three things need to happen.

Education must increase globally, especially among women.

Property rights need secured in all countries with strong enforcement mechanisms.

Corruption must be brought down by popular mandate.

From a scientific perspective, as an economist, there is no rational reason for the continuation of poverty. However, many states are caught in a "prisoner's dilemma" and people with power need to maintain the status quo to protect their own self interest, even though their long run self interest would be improved by not protecting the status quo.

Answer 2

Perfect equality is impossible by logic reasons.
I think only the communist think that the poor countries are a consequence of rich countries.
One country is rich or poor like the consequence of many historic events. The idea of development theories in economy is to find the route to go a country since a poor situation to rich situation.

Answer 3

No, global economic equality would require, by its very definition, a global monetary system. That event, again by definition, would require a worldwide political structure, free from any and all corruption, with equal input from all states and with equal concurrence from all states involved. Because political beliefs frequently follow philosophical and/or religious dictates and because of the fundamental, and wide spread, differences in these dictates such an event becomes a practical impossibility. A great example of the problems inherent with such a goal is the position of England and its pound sterling - refusing to accept the Euro, while demanding at the same time to fully participate in the European Economic Community as a co-equal. Another example is the failure of the United Nations to consistently effect global concurrence in policital/economic crisis.

Answer 4

It's like asking 'is it possible to end all forms of evil in the world?'. As long as there is greed on this world and as long as someone somewhere wants to have more than others, I think it is impossible. Somebody always want the biggest slice of the pie. Even a one or two year old child cries when you grab their toys. It's human nature.

And that is what is wrong on the theory of Socialism wherein they rely on the inner goodness of a man.

But I think it would be great that someday all will be equal

As John Lennon says: Imagine!

Answer 5

Terms like rich and poor are relative, so as long as there are any differences they will be used. However the vast differences that exits today can and are going away. Many countries that were thought to be stuck in hopeless poverty 50 years ago are now well on their way toward becoming industrialized.
http://www.gapminder.org/world/

Answer 6

Naw because the truth is some countries are too dumb to be able to hold onto a well functioning economy. take a look at ethiopia other african countries. They were doing pretty well in the 60s and 70s and then boom, they imploded and everyone thought it was more fun to kill and maim one another