From my perspective, this is entirely a case of Simpson's Paradox. * Worldwide, wealth gaps are closing. * Within most countries, wealth gaps are widening. H

From my perspective, this is entirely a case of Simpson's Paradox. * Worldwide, wealth gaps are closing. * Within most countries, wealth gaps are widening. Here's how globalization works: 1. As capital, I target 8 billion instead of 350 million. That's more wealth per invention. 2. As US labor, I compete with Indian labor. Income goes down. 3. As high-end developing-world labor, I can compete with Americans for jobs. Income goes up. 4. As low-end developing-world labor, I have some trickle-down benefits, but gap to high-end labor increases. Footnote: It also makes a lot of sense, looking globally, to look at log(wealth). See: https://www.gapminder.org/fw/income-levels/ https://www.gapminder.org/fw/income-levels/ There has been a huge move from Category 1 (horrible life) to 2 (manageable life). That's huge. However, income going up 4x is not very visible on many figures when that income goes from $2/day to $8/day, and is being compared to someone with $100B.