Panel Paper: Inequality and the Globalization of Finance

Saturday, November 9, 2013 : 1:45 PM
DuPont Ballroom F (Washington Marriott)

*Names in bold indicate Presenter

James Galbraith, University of Texas, Austin
Drawing on a global data set compiled by The University of Texas Inequality Project, this paper will present evidence that rising inequality within countries in the world economy -- especially during the decades from 1980 to 2000 -- was closely linked to financial globalization, debt crises and  the neoliberal policy project.  After 2000 the picture becomes more mixed, as certain countries (notably in Latin America) achieved significant reductions in inequality, associated with lower interest rates, better terms of trade, expanded social programs and higher minimum wages.