Speaker 1: Lately there’s been a lot of discussion
of the topic of income inequality. People are pretty upset about the widening gap between
the top and the bottom of the economic heap in the United States.
But inequality is a global issue, too, and globally, something fascinating has occurred.
Over the last 20 years, income inequality worldwide actually has been falling. Recent
economic growth in India, China, and other developing countries has driven a historic
period of wealth creation. Billions of people who otherwise would live in poverty are now
far better off. The globalization that many say contributes to inequality in the US has
had the opposite effect on a global scale, bringing unprecedented levels of prosperity.
As we grapple with income inequality in the US, we should be careful not to destroy the
engines of prosperity that have improved the lives of billions. Globalization, free trade,
and other foundations of the global economy have been and can continue to be the greatest
equalizers the planet ever has seen. Learn more about income inequality with Learn Liberty