[lbo-talk] BTN on James Galbraith

[Dennis Redmond]

On Sat, May 5, 2012 at 2:46 PM, Shane Mage <shmage at pipeline.com> wrote:


> It seems to be the former because China, now on the verge of becoming the
> biggest part of the world economy, has experienced thirty years of grossly
> increasing inequality without ever approaching what in "Western" terms would
> be a "crisis."

The ILO says real wages in China have been rising in China at a 10 to
12% rate between 2000 and 2009:

http://www.ilo.org/wcmsp5/groups/public/@dgreports/@dcomm/@publ/documents/publication/wcms_145265.pdf

Inequality has increased between peasant farmers and urban residents,
true. But there doesn't seem to be sort of massive rural immiseration
happening in rural India these days.

-- DRR