NEWS: As the poor reap the benefits of globalization, the rich fight it

NEWS: As the poor reap the benefits of globalization, the rich fight it Email share NEWS: As the poor reap the benefits of globalization, the rich fight it By Kyla Yeoman, January 31, 2014 Photo: Recovering Vagabond (flickr) Globalization has made the world a more equal place, lifting the economic fortunes of billions of poor people over the last quarter century. Here’s the rub: At the same time, it has made richer countries more unequal—squeezing the incomes of the poor and the middle class. “I think we have a political problem. At some point, the middle classes in rich countries could turn against globalization,” says Mr. Piketty. A world order in which a majority of people benefits—but an influential minority doesn’t—may not be sustainable for long. Read the…

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Globalization has made the world a more equal place, lifting the economic fortunes of billions of poor people over the last quarter century. Here's the rub: At the same time, it has made richer countries more unequal—squeezing the incomes of the poor and the middle class.

"I think we have a political problem. At some point, the middle classes in rich countries could turn against globalization," says Mr. Piketty. A world order in which a majority of people benefits—but an influential minority doesn't—may not be sustainable for long.

Read the full article on The Wall Street Journal: Looking at a two-track future

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NEWS: As the poor reap the benefits of globalization, the rich fight it

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