Cedar Brook Notes: LYes, the world as a whole has become more equal over the past generation. This is overwhelmingly because two very large countries—India and China—have harvested a great deal of the low-hanging fruit of development because of better policies. If you think they will continue to do so, well and good: then you can be optimistic. If you think they will or may well not, then globalization and the rise of a global overclass augur for a future in which the rise of the Second Gilded Age is truly global rather than nationally American.
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