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Global Inequality: A New Approach for the Age of Globalization by Branco Milanovic

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One of the world’s leading economists of inequality, Branko Milanovic presents a bold new account of the dynamics that drive inequality on a global scale. Drawing on vast data sets and cutting-edge research, he explains the benign and malign forces that make inequality rise and fall within and among nations. He also reveals who has been helped the most by globalization, who has been held back, and what policies might tilt the balance toward economic justice.

Global Inequality takes us back hundreds of years, and as far around the world as data allow, to show that inequality moves in cycles, fueled by war and disease, technological disruption, access to education, and redistribution. The recent surge of inequality in the West has been driven by the revolution in technology, just as the Industrial Revolution drove inequality 150 years ago. But even as inequality has soared within nations, it has fallen dramatically among nations, as middle-class incomes in China and India have drawn closer to the stagnating incomes of the middle classes in the developed world. A more open migration policy would reduce global inequality even further.

Both American and Chinese inequality seems well entrenched and self-reproducing, though it is difficult to predict if current trends will be derailed by emerging plutocracy, populism, or war. For those who want to understand how we got where we are, where we may be heading, and what policies might help reverse that course, Milanovic’s compelling explanation is the ideal place to start.

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from World Politics Review..By Rodney Muhumuza  | The Associated PressApril 26, 2016 KAMPALA, Uganda (AP) — Uganda's hopes to produce crude oil by 2018 have been boosted by an agreement to build a pipeline to Tanzania's Tanga port, a government official said Tuesday. The agreement with Tanzania comes after months of uncertainty over which route the pipeline would take, said Bukenya Matovu, a spokesman for Uganda's energy ministry. The decision to build a pipeline was reached over
from The EastAfrican..By ADAM IHUCHAApril 30, 2016 The multibillion-dollar Mchuchuma coal and Liganga iron-ore mining projects in Tanzania’s southern highlands will kick off in March next year. Energy and Minerals Deputy Minister Medrard Kalemani told parliament last week that the $2.7 billion twin project is inching closer to implementation. Touted as the largest industrial investment in Tanzania since Independence, the projects are being bankrolled by Sichuan Hongda Group of China. The Chinese firm owns 80 per cent
from The EastAfrican..By JAMES ANYANZWAApril 30, 2016 A delay in the appointment of a new board at Kenya’s Privatisation Commission has stalled operations at the state-run agency, disrupting the ongoing sale of state-owned corporations to strategic investors. The Privatisation Commission has been operating without a board for seven months following the expiry of the three-year term of the current board members on September 19, 2015. This has derailed the process of selling five state-owned sugar millers, three hotels — Hilton and
Tagged in: Privatization
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from The EastAfrican..By JOHN NGIRACHUApril 30, 2016 Kenya Revenue Authority (KRA) Commissioner General John Njiraini. With a proposed 2016/17 budget of Ksh2.26 trillion, pressure will now be on KRA, which Treasury wants it to increase tax collection to Ksh1.37 billion, from the Ksh1.18 billion target it had set in the current financial year. PHOTO | FILE  Parliament has been asked to approve a budget of Ksh2.26 trillion for the last full financial year of the Jubilee administration. This
Tagged in: Budgets
from The Africa Report..By Baudelaire Mieu in Abidjan and Billie Adwoa McTernan in AccraApril 29, 2016 With the return to stability in Côte d'Ivoire cocoa smuggling is down, but that's not the only reason Ghana's producing less. In the lead-up to national chocolate day – otherwise known as St. Valentine's day – the number of traders hawking the Ghana-made Golden Tree chocolate for lovers and hopefuls on the streets of Accra increases. The same cannot be said for
from The Africa Report..By Loucoumane Coulibaly, additional reporting by Joe BavierApril 29, 2016 High global demand for cashews is pushing up prices in Ivory Coast, the world's leading producer of the nut, where local exporters are battling with smugglers for supplies, farmers and exporters said on Friday. Ivory Coast, already the world's top cocoa producer, surpassed India for the first time last year as production leapt more than 24 percent over the previous season to 702,510 tonnes of
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from Foreign Policy.. By NIC CHEESEMAN, GABRIELLE LYNCH and JUSTIN WILLIS April 29, 2016 Uganda’s recent election showed, once again, that international election observers aren't calling it like they see it In Uganda, heated controversy still surrounds President Museveni’s re-election with just over 60 percent of the vote two months ago. At a press conference on February 20, the European Union election observation mission presented its preliminary report on how the election had been conducted. The controversy surrounding the race,
from MercoPress.. April 29, 2016 Argentina's GDP is expected to contract by about 1% in 2016, according to the latest IMF Regional Economic Outlook; Western Hemisphere, announced on Wednesday in Mexico. The chapter on Argentina makes a special mention of the new government's changes to remove macroeconomic imbalances. “GDP growth in 2015 was driven by a generous fiscal stimulus and buoyant activity in the construction and agriculture sectors. Economic activity has slowed in recent months, and
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from Balkan Insight.. By Sven Milekic | BIRN |Zagreb April 29, 2016 Croatia is raising the retirement age from 65 to 67, introducing rewards for public officials and a real estate tax - and adopting other reforms designed to boost growth and lure investors. Croatian government in session. Photo: Croatian government official website Croatia's government on Thursday passed a package of 60 reforms designed to boost growth, cut public debt, narrow the deficit, reduce unemployment and attract investment.
from The Africa Report..April 28, 2016 African private equity firms cashed in on investments last year at the highest rate in almost a decade, with South Africa, Egypt, Nigeria and Kenya accounting for two-thirds of these exits. Equity firms sold investments in 44 companies in 2015, compared to 39 companies in the two previous year, according to a report by Ernst & Young (EY) and the African Private Equity and Venture Capital Association (AVCA). The number of