11+ Branko Milanovic Quotes On Education, Democracy

Branko Milanovic is a Serbian-American economist who is an expert on global inequality. He is a former Lead Economist in the World Bank's research department and is currently a Visiting Presidential Professor at the Graduate Center of the City University of New York. Milanovic is known for his work on the global distribution of income, the history of inequality, and the effects of globalization. Following is our collection on famous quotes by Branko Milanovic on education, democracy, love.

Even if parties associated with right wing populism don't win, they push other parties, the centrist parties, towards their position. So they do have an influence even if they're not in power. — Branko Milanovic

If, for example, each of us had the same share of capital in the national total capital, then if the share of capital goes up it's not a problem, because you get as much as I do. The problem is that capital in capitalist countries is very heavily concentrated, especially financial capital. So then if the share of income from that source goes up, that actually exacerbates inequality. — Branko Milanovic

When the industrial revolution happened there was the Luddistic movement, and there was a fear that machinery would replace all the labor. Whenever we had a technological revolution we had this fear. So if you look backwards, these fears were not justified, and I think they were driven by our very human inability to visualize what new jobs will be created by this new technology. — Branko Milanovic

People in the rich countries who have done very well, who are at the top of the income pyramid, try to steamroll over the opposition of the middle without changing anything in social programs, or any redistribution. And they take their votes for a given. They have rich people that bankroll them. And the globalization would continue, but it would continue with permanent dissatisfaction among large segments of the people. — Branko Milanovic

The middle class in the rich countries is where the political game is being played. They are voting in elections in the U.S., U.K., France and Germany. They are working people in the upper part of the global income distribution. They might on average be happy that the Chinese are doing well, but they are not happy that the Chinese are doing well relative to them. — Branko Milanovic

Well, you can do whatever you want, but just don’t call it inequality. Put the word poverty there. Because we have many rich people on our board, and when they see the word poverty that makes them feel good, because [it means] they’re really nice people who care about the poor. When they see the word inequality it makes them upset, because [it means] you want to take money from them. — Branko Milanovic

If we knew what type of jobs would exist in 20 years, we would be quite rich. But we just cannot visualize it. — Branko Milanovic

While you can say that the problem of the middle class in the rich countries is too much globalization, the problem of the people who are very poor is really that they are not included in globalization. For them, the success of their own countries at becoming part of this international division of labor would be good news. — Branko Milanovic

In the U.S. when people like me started writing things about inequality, the economic journals had no classification for inequality. I couldn't find where to submit my inequality papers because there was no such topic. There was welfare, there was health issues, there was trade obviously. Finance had hundreds of sub groups. — Branko Milanovic

What is different between national inequality and global inequality is you have another element there that is sometimes forgotten: what matters for global inequality is relative growth rates between poor and rich countries. — Branko Milanovic

I was at the World Bank and a commission reviewed our work on inequality for the U.S. Congress or somebody, and the head of the commission said to us: "You are spending taxpayer money to study issues like inequality? Which goes directly against capitalism and growth." That was the perception, that it should not be studied. — Branko Milanovic

Life Lessons by Branko Milanovic

1. Branko Milanovic's work has highlighted the importance of understanding global inequality and the need to create policies that promote economic mobility.
2. He has demonstrated the importance of looking beyond national borders when studying economic issues, as well as the need to consider the effects of globalization and technological change on the distribution of income and wealth.
3. He has also argued for the need to create policies that promote economic inclusion and reduce poverty, as well as the need for governments to invest in education and infrastructure to promote economic development.