EFTA00819618.pdf

From: Noam Chomsky To: "jeffrey E." <[email protected]> Cc: Valeria Chomsky Subject: Re: provacations Date: Sun, 04 Sep 2016 03:31:37 +0000 He's quite right. It's overwhelmingly China, which is very instructive, because China completely ignored the neoliberal prescriptions of the Washington consensus and followed the state-directed path of development that worked for England, the US, the European industrial democracies, Japan and its former colonies -- and has been disastrous almost everywhere it's been applied. There's a very good recent book about it by a fine economist (close to Milanovic), Marc Weisbrot, called "Failed." See you tomorrow hope. I Noam On Sat, Sep 3, 2016 at 7:21 PM, jeffrey E. <[email protected]> wrote: Nevertheless, the best global income estimates suggest international inequality, adjusted for the purchasing power of different currencies, has fallen in recent decades. The pre-eminent researcher in this field, Branko Milanovic, has calculated that the period between 1988 to 2008 witnessed the first decline in inequality between world citizens since the Industrial Revolution. This mainly reflects the rapid development of China and India, two poor countries with very large populations. The largest surge across the global income distribution between 1988 and 2008 was seen among those around the middle of the global income distribution. This largely reflects the mass movement of the rural poor in China to cities where they got higher incomes working in manufacturing plants and on building sites. There was also a surge among the incomes of those at the very top as the rich in rich countries did very well in the era of globalization. But the net result was a slight reduction of global inequality. please note The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of JEE Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to jeevacation®gmail.com, and EFTA00819618 destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved EFTA00819619