The World Is Becoming More Equal Even as Globalization Hurts Middle-Class Westerners

Opponents of economic globalization often point to the ways it has widened inequality within nations in recent decades. In the United States, for instance, wages have remained fairly stagnant since 1980 while the wealthiest Americans have taken home an ever greater share of income. But globalization has had another important effect: it has reduced overall global inequality. Hundreds of millions of people have been lifted out of poverty in recent decades. The world became more equal between the end of the Cold War and the 2008 global financial crisis—a period...