This interesting article covers a similar point to one I made a while ago.
Globalisation has actually been a stunning success at what it was designed to do - generate wealth.
Happily, it even helped drastically reduce global poverty.
The failure in recent decades to address inequality hasn't been globalisation's fault because it was never globalisation's job.
It has been a failure of government policy to adequately redistribute (not a dirty word) the gains of globalisation to the broader population, through, for example, the tax system.
So the solution is not to retreat from globalisation but for government to do its number one job - redistribution.
Globalisation has actually been a stunning success at what it was designed to do - generate wealth.
Happily, it even helped drastically reduce global poverty.
The failure in recent decades to address inequality hasn't been globalisation's fault because it was never globalisation's job.
It has been a failure of government policy to adequately redistribute (not a dirty word) the gains of globalisation to the broader population, through, for example, the tax system.
So the solution is not to retreat from globalisation but for government to do its number one job - redistribution.
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