In many nations, the expansion of global capitalism did not reduce poverty or underdevelopment.

Question

In many nations, the expansion of global capitalism did not reduce poverty or underdevelopment.​

Quizplus · Accepted Answer

The expansion of global capitalism did not necessarily lead to reduced poverty or underdevelopment in many nations. In fact, it often led to increased inequality and exploitation of workers and resources in these countries. This is evident in the phenomenon of global income inequality, where the gap between the rich and poor nations has continued to widen despite increased trade and investment. Additionally, multinational corporations often prioritize their own profits over the well-being of the communities where they operate, leading to environmental degradation, displacement of indigenous peoples, and other social and economic problems.

In Many Nations, the Expansion of Global Capitalism Did Not