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Asymmetric globalization and top performers income
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Resumo(s)
This paper proposes a new explanation for the rise in top performers’ income based on an
asymmetry in globalization, with one country producing globalized non-rivalrous
performances (music, films, series, entertainment programmes etc.) whereas other countries
produce purely domestic ones. In the country with globalized performances, the globalization
dynamics (growing number of countries involved in the global market) entails an increase in
the number and incomes of performers and an increase in inequality by the top. The higher the
performer’s talent, the higher the globalization-driven increase in income. In countries with
purely national performances, the participation in the global economy reduces the number and
incomes of performers and lessens inequality by the top. In contrast, when globalization is
symmetric (all countries producing globalized performances), there is no change in the
number and incomes of performers in all countries compared to autarky. These results are in
line with several characteristics observed in activities directly impacted by the cultural
supremacy of American and English speaking countries in the global economy: 1) the share
of Anglo-Saxon countries in the top 100 richest is substantially higher for actresses, actors,
singers and TV show and film producers than for other occupations (CEOs, businessmen
etc.), 2) the increase in the share of top incomes is significantly higher in Anglo-Saxon
countries, and 3) the increase in inequality is greater in those countries.
Descrição
Palavras-chave
Asymmetry Globalization Inequality Superstars
Contexto Educativo
Citação
Hellier, Joël (2022). "Asymmetric globalization and top performers income". REM Working paper series, nº 0242/2022
Editora
ISEG - REM - Research in Economics and Mathematics