Tuesday, May 16, 2017
One look at globalization..............
In particular, it is unimaginable, at least to me, that the poverty reductions in India, China, and elsewhere could have happened without globalization. Some argue that globalization is a neoliberal conspiracy designed to enrich a very few at the expense of the many. If so, that conspiracy was a disastrous failure - or at least, it helped more than a billion people as an unintended consequence. If only unintended consequences always worked so favorably.
-Angus Deaton, culled from his essay in the recent Cato's Letter, "Thinking about Inequality"