We're often told that capitalism and market liberalisation are closing the gap between rich and poor countries, and the old colonial inequalities are fading. Is it true? We explored this question in a new paper, just published in NPE. Buckle up for some interesting results! 🧵

(1/2) The Iran war is a redistribution machine: Big oil profits have shot up to historic highs. Our research shows that 50% of fossil fuel profits go to the richest 1% in the U.S. The rich are the ultimate beneficiaries of the war windfalls.