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So let’s sum up; what does all the analysis of global and national inequality tell us?
First, that global inequality has increased since the early 1980s, when ‘globalisation’ got moving. Second, that global growth of incomes has been concentrated in China, and to a lesser extent and more recently, India. Otherwise average global household income growth would have been much lower. Third, there has been a rise in average household incomes in the major advanced capitalist economies since the 1980s, but the growth has been much less than in China or India (starting from way further down the income levels) and much less than the top 1-5% have gained. Fourth, since the beginning of the millennium, most households in the top capitalist economies have seen their incomes from work or interest on savings stagnate and must rely on transfers and benefits to improve their lot.
full: https://thenextrecession.wordpress.com/2016/09/14/globalisation-and-milanovics-elephant/
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