Getting Past the Globalization Bogeyman
According to its critics, globalization leads to an inexorable increase in income and wealth inequality: the rich get richer, and everyone else gets nothing. But the first thing we need to understand about globalization is that it has benefited an enormous number of people who are not part of the global elite.
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PRINCETON – As we enter 2017, globalization has become a dirty word. Many see it as a conspiracy by elites to enrich themselves at the expense of everyone else. According to its critics, globalization leads to an inexorable increase in income and wealth inequality: the rich get richer, and everyone else gets nothing.