Equal distribution of its blessings

Their immense power keeps growing, resulting in, as Chomsky (1999) states, “sectors of enormous wealth and privilege alongside an increase in the proportion of those who will labour under all the hardships of life, and secretly sigh for a more equal distribution of its blessings” (p93). The result is that the combined wealth of the world’s 225 richest people, that is $1 trillion, is the combined annual income of the world’s poorest 2.5 billion people. There is therefore an increasing disparity between the rich and the poor. Brecher and Costello (1998) state: “Globalization has depressed the wage growth of low-wage workers. It’s been a reason for the increasing wage gap between high-wage and low-wage workers… [which] the global realignment of work and wealth is, if anything, the bigger culprit” (p28-29).

The increased power that globalization gave MNCs allowed them to diminish their dependence on home countries, putting much more pressure in many ways on other countries’ workers, unions and governments and playing them against each other.

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