Who’s to blame for income inequality in the U.S.? Random Walks episode 1
Nobody knows more about how globalization has affected people around the world than Branko Milanovic.
A former World Bank economist, he’s spent decades studying how, for example, China’s rise as a global economic power has has lifted hundreds of millions of people out of poverty in east Asia, but has also hammered the incomes of the middle and working class in rich nations like the U.S.
Today he’s professor at the City University of New York, where he’s also a scholar at the Stone Center on Socioeconomic Inequality. He also published a well-received book on global inequality. The Financial Times’ economics correspondent Martin Wolf called the book “informative, wide-ranging, scholarly, imaginative and commendably brief.”
Milanovic agreed to join us for VICE Money’s first-ever episode of Random Walks: A semi-regular series where we pry economists out of their offices and make them go for a walk while explaining key economic issues. Here’s what he had to say.