Global inequality and its impacts on developing countries

Global inequality is a pressing economic issue as wealth becomes concentrated in the hands of a few. Professor Francisco Ferreira from the London School of Economics discusses the impacts of global inequality on developing countries. He challenges the traditional view that income growth and inequality follow an inverted U-shaped curve, highlighting that empirical evidence doesn't consistently support this theory. Furthermore, he emphasizes that very high levels of inequality can hinder successful development. While global wealth has increased, it is crucial to address inequality for future economic growth.