Republished from Dr. Ed Yardeni’s blog: “Dr. Ed’s Blog”
It is my view that globalization is not the major cause of income inequality around the world. On the contrary, it is lifting standards of living almost everywhere. The emerging markets really started to emerge after the end of the Cold War. They benefitted from the integration of national economies through the proliferation of more trade. Most impressive is that while the value of the exports of the G7 industrial economies …