Mark Carney has come out and said the very thing that every economist studying the subject agrees with. It isn’t true that everyone benefits from free trade and globalisation. The net effect on all humans is vastly positive, but there are still those that lose. And that’s a political problem, not an economic one. For the people who don’t win are, largely speaking, those below median incomes in the already rich countries. It is this which drives the chatter about increasing inequality when in fact inequality, measured globally, is falling.

Read the Full Article: Source – Forbes
Time For Truth: (Forbes) – Mark Carney's Right, Not Everyone Benefits From Free Trade And Globalisation - The Semi-Rich Don't

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The governor of the Bank of England has issued a rallying cry to policymakers across advanced economies to tackle the causes of a growing sense of “isolation and detachment” among people who feel left behind by globalisation.

Warning that the UK was suffering its “first lost decade since the 1860s”, Mark Carney said that one of the reasons for the Brexit vote was a sense among people that they had lost control of their futures.

Read the Full Article: Source – The Guardian
Time For Truth: (The Guardian) – Mark Carney: we must tackle isolation and detachment caused by globalisation

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