Edwin Dean’s commentary on the benefits of globalization (BDN, Dec. 28) argues that the economic impact of globalization, that is, trade, investment, and financial liberalization, over the last 20 years has been positive. The data say otherwise.

The rate at which nations have been able to reduce poverty has declined, and in the poorest countries, per capita incomes have fallen in this era of globalization. Globally, the growth rate of per capita GDP has declined to half of the rate of the prior two decades, from 2.5 percent a year between 1960 and 1980 to 1.3 percent a year on average in the following two decades.

To put this in starker terms, take the case of Latin America. There, incomes increased by a total of 75 percent from 1960 to 1980, but rose by only 8 percent in the entire 20 years after that time.

For sub-Saharan Africa, per capita GDP grew by 36 percent between 1960 and 1980, while it actually fell by 5 percent during the following two decades – that is, during the period of globalization. Only East Asia shows a glowing record of growth over this entire period, and that region has been known for rules that limit trade and investment liberalization. There, governments have intervened heavily to ensure that economic policies are not ends in themselves but, rather, serve the purpose of promoting growth.

Astute observers know that growth rates of GDP are not ideal measures of well-being. If we consider other yardsticks, the report card on globalization is even worse. For example, income inequality has widened dramatically. The richest 20 percent in the world now have 150 times more income than the poor, up from 30 times the income of the poorest 20 percent in 1960. And even within countries, inequality has seen sharp increases as well, including, of course, the U.S.

Mr. Dean cites a study by World Bank-affiliated authors as evidence of the benefits of globalization, but he should note that even the World Bank acknowledges the severe increase in global inequality that globalization has unleashed. Inequality contributes to social exclusion of the poor. Further, evidence produced by the World Bank and others indicates that inequality is harmful for long-run growth since it leads to political conflict, the inability of the poor to finance the education of their children, and declines in productivity growth.

Research also suggests that economic globalization has been harmful for women and ethnic minorities. This is because it contributes to greater bargaining power of footloose corporations, weakening the ability of workers, especially women, to bargain for fair and decent wages. Globalization does, however, substantially raise corporate profits. Profit as a share of national income has been rising in many countries around the world over the last two decades.

Other indicators of well-being such as infant mortality rates, life expectancy, literacy and education also show that countries were making more progress in the pre-1980 period than they have been able to make in this period of liberalization. In all of these indicators, there has been a decline in rates of improvement.

The protests in Genoa, Seattle and Quebec are a reflection of the growing economic insecurity that has been the consequence of globalization. Mr. Dean erroneously assumes all economists support globalization. He is wrong. Many economists recognize the limits of globalization.

We are working very hard to develop economic policies that will promote equality and rising living standards, rather than simply an increased share of the pie for the wealthiest at the expense of the poor, and especially children. Our benchmark should be indicators of well-being, not merely increases in trade or financial flows.

The United Nations Development Programme routinely produces data that allow us to assess our progress in human development.

I encourage readers to consult their widely available research published annually in the Human Development Report.

Stephanie Seguino is the associate dean of the College of Arts and Sciences and an associate professor of economics at the University of Vermont.