[Marxism] Fwd: Globalisation and Milanovic’s elephant | Michael Roberts Blog

Louis Proyect lnp3 at panix.com
Thu Sep 15 05:52:11 MDT 2016

So let’s sum up; what does all the analysis of global and national 
inequality tell us?

First, that global inequality has increased since the early 1980s, when 
‘globalisation’ got moving.  Second, that global growth of incomes has 
been concentrated in China, and to a lesser extent and more recently, 
India.  Otherwise average global household income growth would have been 
much lower.  Third, there has been a rise in average household incomes 
in the major advanced capitalist economies since the 1980s, but the 
growth has been much less than in China or India (starting from way 
further down the income levels) and much less than the top 1-5% have 
gained.  Fourth, since the beginning of the millennium, most households 
in the top capitalist economies have seen their incomes from work or 
interest on savings stagnate and must rely on transfers and benefits to 
improve their lot.


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