Income Inequality and the Effects of Globalization – Learn Liberty

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

41 thoughts on “Income Inequality and the Effects of Globalization – Learn Liberty

  1. Name one Democrat against globalization or free-trade with any kind of power. That's what I thought

    You've turned a cautionary article into a straw-man argument against people who are concerned about income inequality. You had a great opportunity to explain how common arguments about income inequality are flawed, like the worker productivity to wages chart or the corporate profits to wages chart, but instead all you had to say was, "The world is more equal so what's the problem?!" There are actual problems worthy of being addressed, but after your video there are going to be a lot of people who don't care about our inequality problem when EVEN TYLER COWEN, THE MAN YOU ARE CITING admits that it is still worthy of consideration. Bad form all around.

  2. So-called income "inequality" is a necessity.  Risk takers who know that they have the bear the cost of the risk, but if the risk pays off will just have the money taken away from them by the government will simply decide to stop taking risks.  You know – risk takers like the next Bill Gates or Steve Jobs simply won't happen anymore.

    The fact is that the standard of living even among those in so-called "poverty" in the US is so much higher than it has ever been.

    The real way to combat "income inequality" is to overhaul entitlement programs to remove incentives to stay dependent and instead make sure the incentives are on becoming self-sufficient.  Redistribution of wealth and socialism are the absolute best way to destroy the economy for everyone.  The only way to get absolute "equality" is if nobody has anything, which seems to be the goal of so many leftists…

  3. The United States shouldn't be worried about Income Inequality as every country has that issue to some extent. The thing we should focus on is quality of life and its quantity within a country. Another thing is "How do we expand that quality of life to other countries such as India"?

  4. That is a somewhat misleading idea. Sure it's nice that countries with repressive amounts of poverty are falling but the US is in dire straights when it comes to income inequality and I don't see how it's our duty to help out China or India. If making it so the top 20% of people don't have 80% of our wealth making these ultra huge corporations significantly less powerful and letting start up entrepreneurs actually contemptible in our market place, and stop every politician on capital hill from being bribed as a matter of principle, and that means less jobs shipped over seas than sorry China but that's not really my problem.

  5. Hey everyone, I just learned from this video that income inequality WORLDWIDE has fallen! Like India and China, screw those suckers in Africa and Southern Asia, I guess their economy just isn't growing fast enough. And since WORLDWIDE (India and China's) income inequality is falling, then it's no longer an issue here, don't worry about it, go to sleep, continue buying and consuming so those (Chinese and Indian) kids from around the world can continue growing their economy, one 2 dollar day at a time.

  6. Free trade is loss revenue that could be used to fund the pointless governmental spending. Besides, most of those places are impoverished by the countries that free trade with them.

  7. Spin is taking 96 percent of the profits in 2014 and then saying, I know your hurting but people in other countries and doing better than ever. Even though people earning .25 cents an hour in the 3rd world are still brutally poor.

  8. Capitalism and trade is about producing value, not equality.  But value is valuable to all of us because it generates products and jobs, so it doesn't matter who produces the value as long as somebody produces it.  Otherwise the value doesn't exist.  We can all be equal by outlawing trade and then equally having no value, but I think people prefer to live with value, rather than without it.

  9. Stop pandering to the left. Income "inequality" is not, and has never been a real issue. It is the latest progressive buzz word to rationalize stealing money from those who produce. Stop humoring progressive idiots by pretending it actually matters; it won't end well.

  10. the faded video thumbnail made it look like i had already watched this video, so I kept passing it over lol

  11. Hate to say this, but shouldn't taking care of our own country be what we are concerned with first and foremost? Millions of Americans are out of work since then and to make it worse it's to countries we aren't allied with. It feels a bit insulting that millions of us can't even get a job but we half to consider ourselves "lucky" because in other countries the only reason why they have our jobs is because it's cheaper.

  12. Meanwhile our underclass is falling into oblivion because we keep shipping jobs over to India and China. Super.

  13. my proposal is that we steal all the money from the top class. and give it to the bottom class. while bailing out our top corporate donors and banks. keep spending money on government monopolize services, raise taxes even more on everyone, militarize our police even more, keep being the world's police man, take away our people's right to bear arms because we are their only hope for protection, destroy competition that tries to compete with our big corporate donors, keep imprisoning people for smoking pot for our big tobacco companies etc.

    Who likes my plan? #VoteForTheFlyingSpaghettiMonster2016  

    C'mon get the Hashtag trending on twitter, facebook, google plus, tumblr etc. #ILoveCronyismAndSocialism

  14. While it certainly appears to be the case that free trade has the effect of increasing equality, let's not forget that the desire for greater equality is predicated on the myth of the zero sum game. Let's not play into this myth. It is possible for income inequality to increase while simultaneously seeing a increase in prosperity across all demographics.

  15. The people complaining about growing inequality in the US don't really care about how well brown people in Africa are doing.

  16. "The US Has shipped all our jobs overseas"… what do you expect when they're taxed into oblivion, forced to give more and more and more benefits, pay ridiculous minimum wages, and abide by unnecessary regulations?

    Of COURSE they'll go overseas!

  17. Income inequality seems to me to be a red herring. The real issue to worry about is opportunity inequality. For example, if you work in the fast food industry and want to better your situation, do you have access to education or training, as long as you can afford it, or to put it another way, is something getting in your way of you bettering your situation, i.e. govt. regulations regarding starting your own business, growing a garden in your lawn, etc.

  18. Hmm I'm not too sure about the whole "Globalization" and "free trade" neither of which are beneficial to the sovereignty of countries and individuals. At least as far as they have been unfolding they seem to have had a negative effect on personal liberties overall. Perhaps if big money and big government were to get out of the way then I would be more in favor of it.

  19. I love how people forget how we got to where we are and dont want the policies to continue.

  20. The only problem with income inequality are the people who complain about it and their supposed solutions for it.

  21. Too bad a lot of those jobs in the developing nations came at the cost of American jobs.
    These so-called free trade agreements have gutted the American working / lower middle classes and shipped their jobs overseas. This has resulted in increasing "inequality" in the U.S.. We are by far the largest consumer market in the world, but we manufacture next to nothing anymore.
    This is essentially a huge wealth redistribution scheme that is already having devastating effects on many American families, and it's only going to get  worse.
    If you thought NAFTA was bad just wait…the TPP ( promises to be much, much worse..
    Having the government intentionally trading away American jobs is detrimental to the cause of American Liberty.
    Nice to see Learn Liberty seems to support this kind of treason. (I know that is a strong word, but intentionally undermining the financial well-being of your citizens is nothing short)
    Unsubscribe… clicked.

  22. I'm gonna give you some pizza! 😀

    We can split a regular size pizza 50/50
    I take 99% of a pizza the size of the planet, leaving you 1%.

    So what deal do you want?

  23. Consider #CreativeCurrencyOctaves "the fairest proposed solution to #IncomeInequality." #BetterToBest

  24. While the fact that income inequality globally is getting better, there is consistent data showing that within country inequality is widening in nearly every country. This is much worse than global levels of income inequality because it shows how the rich are getting richer at the expense of the poor, who are being exploited for others' benefit. Please take into account all of the information before promoting your neoliberal corporate propaganda.

  25. Income inequality comes from creditism. Not capitalism creditism. When you allow debt to expand faster than gdp. Both private and public you get inequality. Leading to mass consumerism and a destroyed environment.

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