Globalisation has probably been the greatest poverty reduction mechanism in human history. It has narrowed income and inequality worldwide but also widened inequality within richer countries.
Over the last 40 years, billions of people in countries like China, India, and across Southeast Asia moved from subsistence living into the global middle class as trade, manufacturing, technology, and investment spread internationally. Extreme poverty rates collapsed worldwide. In that sense, globalisation acted as a massive equaliser between nations.
Globalisation has seen a massive ‘redistribution’ to address global inequality. Unfortunately the distributions isn’t fun for the lefties when you part of the rich first world countries.
If historians look back 100 years from now, there’s a good chance they’ll describe this era as extraordinarily progressive in terms of global human development, similar to how we now view the industrial revolution despite the hardship and disruption people experienced while living through it. The people inside transformative economic shifts rarely experience them as comfortable or fair in the moment.
Are we suffering from Noeliberliasm? Nah, the greatest worldwide inequality reduction in history.
(Sorry resident lefties, stop being selfish and embrace the income redistribution your suffering like you expect even richer people to go through. Long term, it’s for the greater good!)
