Effizienz ist wichtig – Verteilung auch! Die negativen Polarisierungsfolgen der Globalisierung

Macroeconomic equilibrium models imply that specialization, international division of labor and free competition in open goods and factor markets will lead to welfare gains. While this theoretical assumption has been empirically verified in a multitude of cases, we must also realize that a general welfare gain has not led to convergence but rather divergence of individual levels of welfare. In the last few years, the difference in living conditions between those in better and worse conditions have not narrowed. Rather, polarization has grown. It increasingly leads to social tensions and political conflict. In turn, populism and protectionism are becoming counterforces against a globalization that also causes economic losses. It is therefore advisable to add distribution to efficiency as central goals of economic policy, and to gather support for further globalization through a smart distribution policy.