The world is becoming a better place, but it's also tremendously bad news. Many Chinese got out of really object poverty and became middle class. We should celebrate over all the elephant curve because by and large, the people who do worse have had real improvements in their lives. But there are effects of living in a really unequal society that go beyond that.
Yascha Mounk and Branko Milanovic discuss what his famous elephant curve says about the ills—and the gains—of globalization; how the left’s concern with inequality is being turned against its concern with internationalism; why economic causes of populism are often expressed in cultural ways; and how a determination to increase the financial and educational endowments of ordinary citizens can combat inequality and boost their living standards.
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