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Trade and PovertyWhen the Third World Fell Behind$
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Jeffrey G. Williamson

Print publication date: 2011

Print ISBN-13: 9780262015158

Published to MIT Press Scholarship Online: August 2013

DOI: 10.7551/mitpress/9780262015158.001.0001

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Rising Third World Inequality during the Trade Boom: Did It Matter?

Rising Third World Inequality during the Trade Boom: Did It Matter?

Chapter:
(p.145) 9 Rising Third World Inequality during the Trade Boom: Did It Matter?
Source:
Trade and Poverty
Author(s):

Jeffrey G. Williamson

Publisher:
The MIT Press
DOI:10.7551/mitpress/9780262015158.003.0146

This chapter examines globalization-induced distribution effects on the poor periphery during the first global century before 1913. The chapter is organized as follows. Section 9.2 discusses the pre-industrial, and pre-global inequality norm. What was third world income distribution like prior to the industrial revolution, prior to modern economic growth, and prior to the colonization of Asia, Africa, and Latin America? Section 9.3 reviews the theory that predicts the globalization–inequality connection in the poor periphery and explores the facts in both the resource-scarce part and the resource-abundant part of the poor periphery. Section 9.4 reports the magnitude of the colonial “drain” from Spanish Nueva España, British India, and the Dutch East Indies to see how much was taken off the top by the foreign elite and transferred back to Europe. The chapter concludes with an assessment of the third world nineteenth-century connection between inequality and long-run growth.

Keywords:   globalization, poor periphery, third world, income distribution, inequality, economic growth

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