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Transcripts For CSPAN2 Progress 20161106

Over the years. Can you see the western middle class so to speak increased their income from zero percent to 10 percent reedit but theres another graph as well, the red line. In the redline, compensates for Something Else. That population growth was bigger in poor countries and rich countries which means a lot of people took a larger part of every percent and it means that they, especially incomes of the population growth in asia, pushed the western middle class from the lower percentile into the higher so what used to be the 80th and 90th percentile of western middleclass people were replaced by the richest people in china. And they are still poor, some 60 percent as rich as the western middle classes which means it looks like its Income Growth is coming down in those areas as well but thats more an illusion that comes from population growth. If you keep population growth, if you pretend the population is stable over these years, the elephant wrath shifts to the redline instead and th

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