Branko Milanovic on Globalization
The Good Fight
The Elephant Graph and Income Distribution
This chapter discusses the concept of the 'elephant graph' and its implications for income distribution globally. The speaker explains that the graph represents an elephant with its trunk raised high, symbolizing the income growth of the lower middle class and middle class globally. However, there is a significant drop in income growth once you reach the 70th-80th percentile of the global income distribution, representing the upper middle class. The graph then shows a sharp increase in wealth for the top 1% globally.
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