What Does the Future Hold?
Economic trends and forecasts bear out the old saying, “The rich get richer and the poor get poorer.” Well, not exactly. The poor are slowly earning more money in real terms. However, as is the case in the United States, the rich are earning even more. So in relative terms the gap between the wealthy—meaning the developed nations—and the poor—meaning the less developed countries—is widening, and it is expected to continue to widen unless international policies change in significant ways.
The Least You Need to Know
• Economists classify the world’s economies as industrialized or developed countries, newly industrialized countries, and developing or less developed countries.
• The top 20 percent of the world’s population ...