Question

Why does the economist interviewed say equal opportunity is myth? What role does globalization and economic inequality play in this myth?

Answer 1

1. Equal opportunity remains a dream and not a myth since the birth of life on earth. The basic concept is, 'survival of the fittest' where the strongest lives and the rest go to dust. That's why economist call the current era as the new gilded age. Everything seems to be ok on the surface but the system beneath is corrupted to the core. It's also agreed that this uneven distribution and inherited wealth are a threat to the economy because it will prevent the poor from becoming atleast middle class. For example, those who have money will have opportunity to study in the best schools, join high paying companies as they visit only those schools and create a cultural and social difference in life style. Gender inequality in terms of pay scale, promotion and work place safety is better when compared to the last century but hasn't improved much.

2. It's true that industrialization and globalisation has brought enough opportunities and economic boom but it's also true that it has created inequality in terms of wealth, gender, geography and society.
Multinational companies accumulate wealth considerably and force the governments to make big decisions that would affect the poor but benefit their businesses because they are the donors of the political parties. Few individuals and companies decide the fate of billions of other people on this earth.
Multinational companies require people to work like slaves for longer period of time which they think women can't do besides, women might go on maternity leave. So the pay scale, opportunity to promotion and leadership roles are still limited to women.
Few parts of the country grow economically because of the varying political scenario in the same country which creates inequality.
All these will indirectly create inequality in the society as high income groups will adopt a more sophisticated life style and make luxurious items as basic needs.