The decline of global inequality, thanks in large part to globalization, should be celebrated by all

Source: Orange County Register
by Veronique de Rugy

“For decades, critics of globalization lamented the chasm that trade and a growing economic interdependence among nations would ostensibly create between the rich and the poor. In the last few decades, however, we’ve witnessed a clear reduction in global inequality quite contrary to the doomsayers’ old predictions. Emerging economies — many of which were once considered backwaters destined to languish — have taken giant leaps forward by joining the global economy. Millions of people have been raised from abject poverty and wealth disparities have narrowed.” (09/14/23)