Saturday, May 30, 2015
RE CONVERGENCE VERSUS DIVERGENCE
Rodrik is an advocate, as are seemingly all liberals now, for more wage and wealth convergence globally.
He also wants more GDP convergence, sadly enough, a double whammy now for the West.
"Globalization And The Great Divergence" p 137.
He refers to this point by discussing what he calls divergence, by which he means GDP divergence, not average or median wage or individual wealth divergence, among countries.
He also wants more average or median wage and individual wealth convergence (Piketty's use of the term in context), as well as more convergent GDPs.
Now think about the question he asks his students on the first day of class.
How about this other question, for all his globalist liberal or globalist conservative students:
Whether you want to be an average person in a rich country versus an average person in a poor country?
With global individual and wealth convergence, the difference dissipates, over time.
He also wants more GDP convergence, sadly enough, a double whammy now for the West.
"Globalization And The Great Divergence" p 137.
He refers to this point by discussing what he calls divergence, by which he means GDP divergence, not average or median wage or individual wealth divergence, among countries.
He also wants more average or median wage and individual wealth convergence (Piketty's use of the term in context), as well as more convergent GDPs.
Now think about the question he asks his students on the first day of class.
How about this other question, for all his globalist liberal or globalist conservative students:
Whether you want to be an average person in a rich country versus an average person in a poor country?
With global individual and wealth convergence, the difference dissipates, over time.
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