There are a lot of things that “explain” inequality. Technology, finance, societal, and cultural changes have all played their part. In this series, Counterparties takes a look at the various things that correlate with rising income inequality in order to ascertain how we got to this economy and where we might go from here. For story tips/comments/complaints email us atCounterparties.Reuters@gmail.com.
Branko Milanovic, the lead economist at the World Bank’s research department, has a new paper out on global income inequality (the paper was first spotted by John McDermott). Among other things, Milanovic compares the change in global income from 1988 to 2008: