More Psychobabble from the Left

Ana Nicolaci da Costa of Reuters has blessed us with a socialist brainfart: Gifts from rich highlight plight of world's poor . Here are just a few of the gems she lays on us:

Analysts say the huge numbers of workers coming into the market through globalization in China and India have driven down wages in rich countries by making their workforce compete with much cheaper labor elsewhere.
At the same time, the upside for wages in poor countries is capped by an infinite pool of labor to choose from.
This helps explain the numbers in the 2005 U.N. Human Development Report, which show the richest 50 individuals in the world have a combined income greater than that of the poorest 416 million and that the unequal distribution of income worsened within many countries in the last 20 years.

First of all Ana, how does driving down wages in rich countries while simultaneously hiring "huge number of workers" in China and India cause the distribution of income to be more unequal? And second of all, where do you get the idea that there is some "cap" on wages in poor countries? Have a look at the Deloitte research report referenced in this article: Rising wages likely to blunt India's BPO edge: Deloitte .

And Ana, in her socialist brilliance, says that economic growth is to blame for the poverty:

Analysts have also said an overriding concern with raw economic growth measures, at the heart of widely accepted business-friendly economic policies, risked widening wealth gaps.

So you think that if we put a brake on economic growth, that will help the poor, right Ana?

The main thing that is holding back the poor of the world are stupid raving moonbats like you, Ana.