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Quote by Branko Milanovic

“What is different between national inequality and global inequality is you have another element there that is sometimes forgotten: what matters for global inequality is relative growth rates between poor and rich countries.”

Author

Branko Milanovic

Branko Milanovic is a renowned economist known for his research on globalization, income inequality, and global income distribution. His work spans multiple fields, including development economics, international economics, and comparative economics. more

“Global inequality is such an abstract concept, simply because there is no global government. Telling people in rich countries who have had no increase in real incomes, stagnant median wages and so on, that on the other hand global inequality is going down because people who are much poorer than them are getting richer - it's something that maybe they would like in an abstract sense, because everyone is happy there are fewer poor Chinese, but you may not be as happy if these Chinese are taking your job.”

People Real Country Poor Rich Inequality Chinese Abstract Get Rich Stagnant

Author:Branko Milanovic

“People in the rich countries who have done very well, who are at the top of the income pyramid, try to steamroll over the opposition of the middle without changing anything in social programs, or any redistribution. And they take their votes for a given. They have rich people that bankroll them. And the globalization would continue, but it would continue with permanent dissatisfaction among large segments of the people.”

People Trying Country Done Rich Program Vote Globalization Rich People Dissatisfaction

Author:Branko Milanovic

“Even if parties associated with right wing populism don't win, they push other parties, the centrist parties, towards their position. So they do have an influence even if they're not in power.”

Winning Party Influence Right Wing

Author:Branko Milanovic

“When the industrial revolution happened there was the Luddistic movement, and there was a fear that machinery would replace all the labor. Whenever we had a technological revolution we had this fear. So if you look backwards, these fears were not justified, and I think they were driven by our very human inability to visualize what new jobs will be created by this new technology.”

Thinking Technology Revolution Labor Driven Technological Backwards Justified New Technology New Job Industrial Revolution

Author:Branko Milanovic