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Originally Posted by Shaun 84 Targa
despite some gains by poorer countries through the liberalization of trade and finance, the number of people living in poverty has increased or stayed the same during the past 25 years, and the gains of economic globalization have been heavily skewed towards wealthy nations2 (Fig. 1). One of the most detailed studies on global inequality concludes9 that income divergence between rich and poor nations has "at best ... decelerated after 1950, but [has] not reversed". Large areas of Central and South America, and almost all of sub-Saharan Africa, have been left behind.
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Income divergence has been a fact within the US for the past 25 years too. Real income for middle income Americans has been stagnant, while income for the wealthiest has continued to increase. Twenty five years ago the top 10% owned less than 35% of the country's wealth, now the top 10% owns 50% of the wealth.