Stanford Economist: Globalization is Erasing Prosperity Gap Between Rich, Poor Countries
Shipping containers stacked up at the Port of Los Angeles. (AP photo)
(CNSNews.com) -- New research by an economist at Stanford’s Hoover Institution shows that globalization and industrial investment are increasing prosperity worldwide and lessening the economic gap between rich and poor countries.
“Projecting these dynamics forward suggests rapid growth across all regions over the coming century that will bring nearly all countries to within 80 percent of the per capita income frontier,” Hoover research fellow Timothy Kane wrote in Accelerating Convergence in the World Income Distribution, a working paper that was published on Jan. 17.
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