Answer to Question 1
Global wealth and poverty are linked to the level of industrialization and
economic development in a given society. Although the process by which
a nation industrializes may vary somewhat, industrialization almost
inevitably brings with it a higher standard of living in a nation and some
degree of social mobility for individual participants in the society. The
most widely known development theory is modernization theorya
perspective that links global inequality to different levels of economic
development and suggests that low-income economies can move to
middle- and high-income economies by achieving self-sustained
economic growth. According to modernization theory, the low-income,
less-developed nations can improve their standard of living only with a
period of intensive economic growth and accompanying changes in
people's beliefs, values, and attitudes toward work. As a result of
modernization, the values of people in developing countries supposedly
become more similar to those of people in high-income nations. The
number of hours that people work at their jobs each week is one measure
of the extent to which individuals subscribe to the work ethic, a core value
widely believed to be of great significance in the modernization process.
Answer to Question 2
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