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A globalisation challenge: Preventing a clash between the middle classes of the developed and emerging economies

Andrés Ortega, Otero-Iglesias, Miguel and Federico Steinberg

No 2017-106, Economics Discussion Papers from Kiel Institute for the World Economy (IfW)

Abstract: Tension is growing between the interests of the middle classes that are in decline in the mature economies and the rising ones in emerging markets. The aim of the public policies proposed in this paper is to impede such a clash by not threatening de-globalisation, avoiding protectionism, fostering inclusive technological innovation, compensating the losers of globalisation in developed economies and reassuring the winners in emerging economies. It argues that the G20 concept of "inclusive growth" must overcome the challenges that come with reduced inequalities between countries, growing inequality within countries and the disruptive impact that accompanies technological innovation.

Keywords: globalization; inequality; advanced countries; emerging countries; technology (search for similar items in EconPapers)
JEL-codes: F02 F6 F66 D63 J31 (search for similar items in EconPapers)
Date: 2017
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