Worlds Apart

by Milanovic, Branko

• ISBN13: 9780691121109
• ISBN10: 0691121109
• Format: Hardcover
• Copyright: 2005-05-06
• Publisher: Princeton Univ Pr

Summary

We are used to thinking about inequality within countries--about rich Americans versus poor Americans, for instance. But what about inequality between all citizens of the world?Worlds Apartaddresses just how to measure global inequality among individuals, and shows that inequality is shaped by complex forces often working in different directions. Branko Milanovic, a top World Bank economist, analyzes income distribution worldwide using, for the first time, household survey data from more than 100 countries. He evenhandedly explains the main approaches to the problem, offers a more accurate way of measuring inequality among individuals, and discusses the relevant policies of first-world countries and nongovernmental organizations. Inequality has increased between nations over the last half century (richer countries have generally grown faster than poorer countries). And yet the two most populous nations, China and India, have also grown fast. But over the past two decades inequality within countries has increased. As complex as reconciling these three data trends may be, it is clear: the inequality between the world's individuals is staggering. At the turn of the twenty-first century, the richest 5 percent of people receive one-third of total global income, as much as the poorest 80 percent. While a few poor countries are catching up with the rich world, the differences between the richest and poorest individuals around the globe are huge and likely growing.

Author Biography

Branko Milanovic is Lead Economist in the World Bank research department, working on income inequality and poverty.

Table of Contents

Acknowledgments	vii
Prologue The Promise of the Twentieth Century	1	(2)
Introduction A Topic Whose Time Has Come	3	(4)
PART I: SETTING THE STAGE
Chapter 1 The Three Concepts of Inequality Defined	7	(5)
Chapter 2 Other Differences between the Concepts	12	(8)
Chapter 3 International and World Inequality Compared	20	(11)
PART II: INEQUALITY AMONG COUNTRIES
Chapter 4 Rising Differences in Per Capita Incomes	31	(14)
Chapter 5 Regional Convergence, Divergence, or..."Vergence"	45	(6)
Chapter 6 The Shape of International GDP Per Capita Distribution	51	(10)
Chapter 7 Winners and Losers: Increasing Dominance of the West	61	(24)
PART III: GLOBAL INEQUALITY
Chapter 8 Concept 2 Inequality: Decreasing in the Past Twenty Years	85	(16)
Chapter 9 High Global Inequality: No Trend?	101	(27)
Chapter 10 A World without a Middle Class	128	(11)
PART IV: CONCLUDING COMMENTS
Chapter 11 The Three Concepts of Inequality in Historical Perspective	139	(10)
Chapter 12 Why Does Global Inequality Matter and What to Do about It?	149	(14)
Appendixes 1-7	163	(32)
Notes	195	(18)
References	213	(10)
Index of Authors	223	(2)
Index of Subjects	225