Explain how globalization has benefitted consumers but has also widened the gap between rich and poor in the United States
What will be an ideal response?
Globalization has brought consumers a wider variety of goods and services at lower cost, and it has increased competition that has led to better-quality products. Globalization has widened the gap between rich and poor because low-skilled workers around the globe have displaced low-skilled workers in the United States, primarily due to lower wages in other parts of the world. Without increases in education and training, these low-skilled U.S. workers will continue to find it difficult to find employment opportunities that will allow them to increase their wages.
Economics