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A globalisation challenge: Preventing a clash between the middle classes of the developed and emerging economies

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  • Ortega, Andrés
  • Otero-Iglesias, Miguel
  • Steinberg, Federico

Abstract

Tension is growing between the interests of the middle classes that are in decline in the mature economies and the rising ones in emerging markets. The aim of the public policies proposed in this paper is to impede such a clash by not threatening de-globalisation, avoiding protectionism, fostering inclusive technological innovation, compensating the losers of globalisation in developed economies and reassuring the winners in emerging economies. It argues that the G20 concept of "inclusive growth" must overcome the challenges that come with reduced inequalities between countries, growing inequality within countries and the disruptive impact that accompanies technological innovation.

Suggested Citation

  • Ortega, Andrés & Otero-Iglesias, Miguel & Steinberg, Federico, 2017. "A globalisation challenge: Preventing a clash between the middle classes of the developed and emerging economies," Economics Discussion Papers 2017-106, Kiel Institute for the World Economy (IfW Kiel).
    • Handle: RePEc:zbw:ifwedp:2017106
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    References listed on IDEAS

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    More about this item

    Keywords

    globalization; inequality; advanced countries; emerging countries; technology;
    All these keywords.

    JEL classification:

    • F02 - International Economics - - General - - - International Economic Order and Integration
    • F6 - International Economics - - Economic Impacts of Globalization
    • F66 - International Economics - - Economic Impacts of Globalization - - - Labor
    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
    • J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials

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