Income inequality has been talked about and written about for decades but, while universally decried as “a bad thing” and steadily getting worse, its causes and consequences were widely misunderstood or lost in a miasma of economic jargon. The most glaringly absent piece of this puzzle was the powerful connection between income inequality and globalization.    

Globalization, itself a complex phenomenon, has been commonly represented as “a good thing” that, through the efficiencies of technology and the virtues of multilateral cooperation, would over time greatly benefit workers and consumers alike. The reality, however — exposed by economic calamities from the financial crisis of 2008 to the pandemic of 2020 — has been starkly different.      

Far from being the sunny face of an inevitable and always forward-marching progress, globalization has been revealed as a façade concealing the greatest transfer of wealth…

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