Development in world economies has been at a dissonance pace; some countries have a better development mechanism contrasted with others. Inequalities globally are evident in terms of wealth generation and accumulation. Wealth generation is a key aspect of determining the pace at which a country develops. The differences in income distribution are contributing to the inequalities in countries’ wealth. The inequality in income distribution has risen since some countries have a large share of the income gains.
The divide between rich and poor world
The wealth generated is a determinant of the ranking on equality or inequality in richness of a country. The nature of wealth generated is highly determined by the quantity and quality of the factors of production. Availability of the factors of production is not only the wealth generation determinant but also the utilisation of the resources in the creation of the wealth. A rich country poses superior mechanisms of resource utilisation from the poor countries. There are key elements that are pertinent to development description, education, health, extreme poverty, hunger and promotion of gender equality. The millennium development goals had most interest in ensuring that the poorest people are not at a disadvantage in the development process (Thomas 2002: 34). The divide between rich countries exists due to various factors related to the utilisation of the economic resources.