Sunday, October 27, 2013

World trade leads to income redistributions

Everyone is talking about this chart. Go see Brad's discussion.

The chart says the bottom 10% of the world, far left,  is slated for extinction. And that huge dip in the middle us, middle America, taking a hit to relative income growth. Otherwise, China and India got that middle hump growth in the middle class. That wealth to the wealthy spike, far right,  is mostly in the USA, a big clue as to Whodunnit. When distributions are relatively distorted in the USA, we might start looking there for a guilty party.

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