How the fate of the 1% is tied to that of the 99%

At the beginning of class we discussed why certain countries fared far better than others. Part of that discussion was about how the "top" countries were converging on each other economically, while the "bottom" countries were getting poorer relatively to the rich countries. The same pattern can be seen in the class divisions in the US today. The "lower" class is getting poorer relative to the rich, while the rich simply get richer. The article that inspired this blog post discusses how the fate of the richer classes is inherently tied to the fate of the lower classes. Extrapolating this to our class discussions, one could conclude that the fate of "developed" countries depends on the fate of undeveloped countries. This is a unique idea that seems to signify that globalization is not going to be beneficial for developed countries for much longer if they do not tend to the basic human needs of undeveloped countries.

http://www.vanityfair.com/society/features/2011/05/top-one-percent-201105