Does Globalization Make the World More Unequal?

Abstract

This chapter examines the impact of globalization on world inequality. It explores four dimensions: the components of world inequality, the sources of globalization, the degree to which individual nations actually globalized, and the historical time period. The chapter suggests that globalization may have mitigated the steep rise in income gaps between nations. The nations that gained the most from globalization are those poor ones that changed their policies to exploit it, whereas the ones that gained the least did not. The effect of globalization on inequality within nations has gone both ways, and not according to any simple correlation between the observed trends, or, for that matter, according to any simple theory. A commentary is also included at the end of the chapter.

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