The Roots of Growing Global Disparity
Global inequality—both across nations and within their borders—has evolved through a tangled interplay of economic, technological, political and environmental forces over the past forty years, with some dynamics narrowing gaps between countries, as seen in China’s rapid expansion and growth across parts of Asia, while others have significantly deepened income and wealth divides within most advanced and many emerging economies; grasping these underlying forces clarifies why resources accumulate among a limited few even as vast populations remain exposed to persistent vulnerability.Key forces shaping the economyStrong returns to capital relative to growth The dynamic highlighted by Thomas Piketty—that returns on capital…
