Lucas Chancel on inequality and deglbalization

We already have phenomena like Donald Trump, brexit and populists gaining ground. Will "deglobalization" become more pronounced in this wave?

One of the problems is that the promises of globalization largely fail. It should raise the standard of living in low-income countries, and this happened.

But it should also improve the lives of middle class and working people in rich countries, and this has not happened.

One way to understand the rejection of multilateralism is the very failure of multilateralism.

But one way to try to make it successful is to address the critical question you posed, the flight of capital. It is necessary to organize globalization and to know with more transparency where wealth is and how it moves from one country to another.

This means, for example, that we can not continue to negotiate with tax havens that do not respect the basic rules of transparency. Because countries and governments lose in this game. This justifies the imposition of limits.


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