The Great Convergence

Richard Baldwin

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Auteur Richard Baldwin is Professor of International Economics at the Graduate Institute, Geneva, and President of the Centre for ...

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Auteur
Richard Baldwin is Professor of International Economics at the Graduate Institute, Geneva, and President of the Centre for Economic Policy Research (CEPR), London.

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From 1820 to 1990 the share of world income going to today's wealthy nations soared from 20% to 70%. That share has recently plummeted. Richard Baldwin shows how the combination of high tech with low wages propelled industrialization in developing nations, deindustrialization in developed nations, and a commodity supercycle that is petering out.