On Milanovic's Idea of World Inequality
The world distribution of income has received a lot of attention over the last 10 years, and we must admit that many discussions about inequality are characterised by a lot of confusion. Although inequality is a fairly easy concept when treated at a superficial level of analysis, it becomes a very complex issue when we try to assess it in more depth. A common perception is that the world is experiencing a period of growing inequality since the intensification of the globalisation process, labour migration and rising competition from emerging countries. Is this perception real?