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Don't blame globalisation for the squeezing of the middle class. CEPS Policy Brief, No. 121, 2 February 2007

Ubide, Angel. (2007) Don't blame globalisation for the squeezing of the middle class. CEPS Policy Brief, No. 121, 2 February 2007. [Policy Paper]

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    Abstract

    Globalisation is being blamed for the squeezing of the middle class and protectionism is being offered as a solution. We argue in this paper that the increase in inequality is a long-term trend resulting from a variety of factors, including the decline in manufacturing, the reduction in the progressivity of taxation and the steady increase in asset prices, and that globalisation has only had a marginal impact on it. Protectionism will not reverse any of these trends. We discuss some policy options aimed at cushioning this increase in inequality and argue that they will likely result in expanding fiscal deficits and pressure on central banks to test the limits of growth.

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    Item Type: Policy Paper
    Uncontrolled Keywords: Economic inequality.
    Subjects for non-EU documents: EU policies and themes > External relations > globalisation/globalization
    EU policies and themes > Policies & related activities > economic and financial affairs > general
    Subjects for EU documents: UNSPECIFIED
    EU Series: UNSPECIFIED
    ["eprint_fieldname_eusries" not defined]: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Series: Series > Centre for European Policy Studies (Brussels) > CEPS Policy Briefs
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 27 Jan 2008
    Page Range: p. 4
    Last Modified: 03 Apr 2012 11:56
    URI: http://aei.pitt.edu/id/eprint/7361

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