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Global Income Inequality in Numbers: in History and Now[Note 2. This paper was first presented at the Conference on ...]
Author(s) -
Milanovic Branko
Publication year - 2013
Publication title -
global policy
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.602
H-Index - 33
eISSN - 1758-5899
pISSN - 1758-5880
DOI - 10.1111/1758-5899.12032
Subject(s) - inequality , convergence (economics) , globalization , politics , industrial revolution , economics , economic inequality , development economics , citizenship , demographic economics , political science , economic growth , market economy , law , mathematical analysis , mathematics
This article presents an overview of calculations of global inequality, recently and over the long term, and outlines the main controversies and political and philosophical implications of the findings. It focuses in particular on the winners and losers of the most recent episode of globalization, from 1988 to 2008. It suggests that the period has witnessed the first decline in inequality between world citizens since the Industrial Revolution. However, the decline can be sustained only if countries' mean incomes continue to converge (as they have been doing during the past ten years) and if internal (within‐country) inequalities, which are already high, are kept in check. Mean‐income convergence would also reduce the huge ‘citizenship premium’ that is enjoyed today by the citizens of rich countries.