Book Reviews

The globalization of inequality

In this relatively slim volume, professor emeritus Francois Bourguignon explains reasons of income and living standard

inequality in the world with emphasis on developed, developing, and agrarian societies.

The contents are based on accurate and reliable data of the World Bank where he was senior vice president.

Taxation, he claims, is an efficient way to redistribute wealth from the rich to the poor if done in a well thought-out and transparent fashion.

In teh U S A, tax laws favour the rich, and help them to keep most of the earned money. Politicians who believe that the rich create more opportunities for employment due to their capital investments achieved this. Politicians also enacted these laws to protect and increase their wealth!

The author also discusses ay length the inefficiency of foreign aid to poor African countries, pointing out at least two presidents who enriched themselves fabulously by literally confiscating foreign aid funds.

It is important for donors to insist and ensure transparency of aid fund

distribution properly. Professor Bourguignon argues that it is up to developed and developing countries to implements enlightened, enforceable policies, even though globalization limits the scope of some redistribution methods.

The narrative is clear for anyone to understand and follow, although it contains significant amounts of economics and related fields.

In the end, the good professor concludes that thorough primary education of all children will be prime the contributor to erasing inequality in the long term.

In addition, taxation in advanced economies must be re-thought and legislated to facilitate redistribution of wealth created through labour and capital; transferring skills and technology, where and when possible to poor but willing societies. The Globalization Of Inequality is an informed and original contribution to current discussions about inequality.

This oeuvre is essential reading for anyone  concerned about the future of world economy.

Highly recommended.

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2 Comments

  1. Education is really important to remove the inequality. Great review

  2. I guess inequality is something which would never go away, in fact, will increase by time. Poor are poor for several reasons and many poor become rich by determination and hard work. It’s all about hard work I believe but yes, we can blame governments too if want to

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