Quote #178,337
"The globalization that has rescued so many in poor countries has harmed some people in rich countrie..." — Angus Deaton
The globalization that has rescued so many in poor countries has harmed some people in rich countries, as factories and jobs migrated to where labor is cheaper.
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View AllThe first thing we need to understand when we think about globalization is that it has benefited an enormous number of people who are not part of the global elite.— Angus Deaton
It is true that globalization has fueled greater income inequality. But much of this increase should be welcomed, not condemned. There is nothing inherently bad about inequality. Whether it is bad depends on how it comes about and what it does.— Angus Deaton