High Wages Versus High Savings in a Globalized World

Democracies will increasingly have to choose between raising wages and redistributing income or maintaining free trade and capital flows. Because they are likely to choose the former, the world may face a long-term reversal of globalization. Investment-driven growth can broadly occur in the form of one of two models, each with a different way of treating wages and household … http://ceip.org/2uM6xa4

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