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The Great Convergence

Richard Baldwin




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 | #37345 in eBooks |  2016-11-14 |  2016-11-14 | File type: PDF

||8 of 8 people found the following review helpful.| Stimulating and informative|By JC Reader|A serious application of current macro economic theory to modern realities of international trade and economic development. This is an update and amplification of Ricardo's thoughts on comparative advantage. Maybe not a perfect explanation for everything going in world wide economic developments but a very logical and comprehensive pre| |[An] excellent book…Baldwin’s work seems likely to become a standard, perhaps indispensable, guide to understanding how globalization has got us here and where it is likely to take us next. There can be few more vital subjects today that will bene

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.



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