Most of you are probably familiar with the Elephant Chart which shows the changes in the global income distribution over the three decades before the last recession. It came from a World Bank paper by Branko Milanovic and shows the increase or decrease in real incomes at each percentile. It shows big gains in the middle and lower percentiles, falling incomes at the upper middle while the very poor see almost no income growth and the very rich, as ever, see their incomes continue to rise steadily.
The chart has been cited a lot recently, especially when explaining the Brexit vote, the rise of Donald Trump and the growth of populist movements in the developed economies. The less well-off in the developing economies have done well and millions have been lifted out of poverty. At the same time, and some would say inevitably, skilled middle-earners in the developed economies have suffered as their…
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Utopia, you are standing in it! 
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