Wednesday, February 07, 2007

The Morality of Rising Inequality The Morality of Rising Inequality

TCS Daily: The Morality of Rising Inequality steps aside from the usual debate about whether globalization is good or bad, by noting that:
Yet in this particular instance I find that my own answer is quite simple. Those poor who are getting richer in other countries are not moving from one level of luxury to a slightly higher one. They are moving from destitution, from not knowing where the next meal is coming from, to something close to a middle class income. They are doing this in their hundreds of millions, across the globe, and that has to be a good thing.

I've deliberately used inequality above, but there's another phrase often used, relative poverty, to mean the same thing. Recasting the argument, globalization is increasing relative poverty in the rich countries, while at the same time abolishing absolute poverty in the poor ones. Put like that it seems quite clear to me that the price is worth paying, indeed, I would argue that anyone who disagrees simply isn't a liberal, classical or otherwise.

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