Rapid economic growth in the emerging worlds has taken many families out of poverty but has placed downward pressure of manufacturing wages in the advanced world. Along with increasingly lower real interest rates that have placed upwards pressure on asset prices, these twin forces have the propensity to accelerate income inequality, what do the facts say?

The transcript and downloadable versions of the lecture are available from the Gresham College website: https://www.gresham.ac.uk/lectures-and-events/macroeconomics-capitalism-inequality

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