Economist Richard Baldwin, author of The Great Convergence, writes that the origin of today’s anti-globalization sentiment in the wealthiest nations lies in the fact that their share of world income has plummeted from 70 percent in 1990 to 46 percent in just the past two decades. In other words, wealthy nations like the United States, France, Germany, and the UK have witnessed a large drop in their share of world income. The combination of low wages and information technologies that radically lowered the cost of moving ideas has meant that places like China and India have significantly gained
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This is a hint for the future of work. Perma-remote, proven profitable during the pandemic, means I might be doing my job in the future from Hyderabad instead of California. (For a lower salary, of course.)
