Speaker 1: Lately there's been a lot of discussion of the topic of income inequality.
People are pretty upset about the widening gap between the top and the bottom of the
economic heap in the United States.
But inequality is a global issue, too, and globally, something fascinating has occurred.
Over the last 20 years, income inequality worldwide actually has been falling.
Recent economic growth in India, China, and other developing countries has driven a historic
period of wealth creation.
Billions of people who otherwise would live in poverty are now far better off.
The globalization that many say contributes to inequality in the US has had the opposite
effect on a global scale, bringing unprecedented levels of prosperity.
As we grapple with income inequality in the US, we should be careful not to destroy the
engines of prosperity that have improved the lives of billions.
Globalization, free trade, and other foundations of the global economy have been and can continue
to be the greatest equalizers the planet ever has seen.
Learn more about income inequality with Learn Liberty Academy.