Duncan: Great intro to the Milanovic paper, Ricardo, but there’s plenty more juice to be had, I think. First let’s take a closer look at the graph you put up of change in global real income 1988-2008 (below). As well as the spike of the top 1% (and do we know whether the financial crisis has moderated or amplified the spike?), the bit that jumps out at me is the stagnation of incomes above the 75th percentile. For that portion of the world’s population in the top quarter of the income bracket, but below the super-rich 1%, the last 20 years have been pretty terrible.
As always after an intense ‘immersion’ in our programme work, I left the Philippines with my head buzzing. Here are some impressions, memories and ideas that don’t fit into a more structured blogpost:
Migration: One in 9 Filipinos are outside the country, constituting a major export sector (the government deliberately trains more nurses than the country needs, to encourage outmigration). On the way in from Qatar, I sat next to a Filipino gold miner, working for an Australian/Filipino company in Tanzania, 2 months on, 1 month off. OFWs (Overseas Filipino Workers – this country loves acronyms) even have their own immigration channels at the airport (see pic).