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Branko Milanovic
1) Income inequality; 2) Politics; 3) History; 4) Soccer. Author of Global inequality: A new approach for the age of globalization
DC opens up despite the fact that the % of its positives still hovers around 11% and has not gone down since the first week of May. (from DC official daily data)
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@HeerJeet Absolutely. The series says almost nothing about money. The few hints in episode 2 are totally unpersuasive. You do not go from wealth of 0 to wealth of 4 billion overnight. And with nobody having a clue how you got it.
My today's piece in @socialeurope America’s unhappy middle (written before the riots)
"This crisis is like “the warrior that leaves devastation in its stead” and to make projections assuming that none of that devastation has occurred, and even if has occurred, that it will have no impact on future functioning of the economy is simply wrong"
Listened to Branko Milanovic on Capit... from EconTalk @Stitcher @EconTalker
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Some stunning results for Spain, based on the just-published @lisdata harmonized survey data. Ten years after the crisis, real median income is the same as in 2007, bottom 40% lost in real terms, income of the top 1% went up by 21%.
Chile beats Russia, in the combined wealth of its billionaires as a share of GDP. (Forbes 2014 data). (Chile is actually the most unequal country in the world by this measure).
Why is nobody discussing truly staggering differences in death rates between Eastern and Western Europe? In the @FT graphs none of EE countries is even included. The gap is just striking. (Worldometer, 22 April).
People have died for many reasons: nations, religions and ideologies. But it is indeed a new thing to die for Dow Jones. It is fully post-modern. To die for rich people's *perceptions* about the future summarized in one abstract number.
Many policies that 20y ago were thought great (and the World Bank promoted them all) are now seen as failures: 1. Complex financial instruments 2. Student loans 3. Private pensions 4. Fast privatization 5. Privatization of infrastructure & water 6. Cutting basic food subsidies
I know that it is a rant. But I just cannot understand that a country with a GDP of $20 trillion and health expenditures of 17% of GDP, by far the highest per capita in the world, has 1/3 of all covid-19 deaths in the world and... this is something considered almost normal.
"Poland's leader says if 'no' side wins, Greece must leave eurozone". This from PM of a country which in 1991 got 60% of its debt forgiven.
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