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Globalisation and the Elephant Chart

Geoff Riley

14th September 2016

The FT’s Chris Giles reports on a study by the Resolution Foundation that shows that globalisation does not appear to have hurt the lower middle classes in wealthy countries

Ben Chu from the Independent adds here to the lively debate on the economic and social costs and benefits of globalisation. In particular, he focuses on a new report that casts doubt about the shape of the famous "elephant curve" developed by Branko Milanovic. This is a good article to read to deepen the range of evaluation points you can make on the impact of globalisation. I picked out this pertinent quote: "Yet globalisation also creates localised pockets of losers in developed countries. Think of the classic case of a steel plant being shut down in an American rust belt town and production relocated to China or somewhere else in Asia where labour is cheaper."

Geoff Riley

Geoff Riley FRSA has been teaching Economics for over thirty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD conferences in the UK and overseas.

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