Fans pick 100 books like The Great Divide

This is an obvious choice, but it’s obvious for a reason–it sets out clearly and rigorously the extent to which the super-rich across multiple different countries suck up an ever-increasing share of aggregate income and wealth.

There’s doubtless some satisfaction from being one of the small proportion of purchasers to get through all 700+ pages, but it’s actually quite readable and peppered with literary references to writers like Jane Austen and Honore Balzac.

The divide here is not within a country but across countries, in particular between rich and poor countries, which are often referred to as ‘The Global South’.

Hickel argues that the activities by those in rich countries designed to ‘help’ poorer countries have exactly the opposite of their claimed effect. Rather than being the mechanism by which poverty is alleviated the policies they advocate for these poor countries are really the causes of their continuing poverty.

He writes: "Today British apologists defend colonialism in India and interventions in China on the basis that it brought ‘development’ to these regions. But the evidence we have suggests exactly the opposite story. It was the colonial period that forced market integration that inaugurated the ‘development gap’ between Britain and Asia."

The approach of Milanovic is very different from that of Hickel in that it is intensive in the use of data which, he would argue, shows a much more nuanced picture of the success of the global economy in reducing poverty than argued by Hickel.

He begins by reproducing the ‘Elephant Chart’ from his earlier work. This is a chart showing the relative gain in real per capita income by global income level. The name ‘Elephant’ comes from the shape of the chart which shows the largest income gains to have occurred for those in the middle of the distribution and the lowest in the range of 70 to 80 in the percentile distribution and the highest for those at the very top. Those in the middle being the hump of the elephant those at the top being its trunk.

Milanovic argues that in many respects the years before the… show more.

Atkinson died in January 2017. His life’s academic work focused on the causes of inequality and poverty. He had a particular interest in policy in these areas which is reflected in this book which offers a rationale for and a detailed account of how household income can be made more equal.

He is concerned with inequality in developed countries, so his focus is on the US, UK, and European countries. He first sets out how it is that income inequality has so greatly increased covering some of the same ground as Milanovic. He then, in chapters on progressive taxation and social security, sets out detailed proposals which he argues would considerably reduce inequality and promote social justice.

His proposals on progressive taxation would, it can be safely asserted, reduce Tory MPs to apoplexy.

Ed Kleinbard was a treasured colleague, a brilliant commentator, and a giant in the field of tax policy. In his final year of life, perhaps fittingly, Kleinbard devoted himself to a book on the role of luck in economic outcomes, which opens with a quote from Stendhal. “Waiting for God to reveal himself, I believe that his prime minister, Chance, governs this sad world just as well.” The book argues that luck, and particularly existential luck (to whom and in what circumstances you are born), are paramount in determining economic outcomes. Within that context, Kleinbard makes a strong case for the role of public insurance in areas like health care, education, and childcare; he also emphasizes the importance of a progressive income tax system. 

American author Mark Twain had described the last decades of the 19th century as the Gilded Age in the United States, a period when on the surface everything appeared to be glittering like gold concealing the filth and ugliness that lay beneath. British journalist and academic James Crabtree, now based in Singapore, believes that the last few decades in India closely resembles the Gilded Age of the US. His 357-page book is filled with dozens of anecdotes about some of India’s most wealthy individuals such as Mukesh Ambani, Gautam Adani, and Vijay Mallya. His meetings with them and his detailed descriptions of their lifestyles and demeanour make for racy reading. 

A disclaimer: Crabtree has described in flattering terms his meeting with this writer and referred to some of my articles and books.

Debunking the Horatio Alger promotional blather of self-flattering tech moguls, the real Bay Area comes into view, based on nurses and teachers, drivers and clerks, homeless and the desperate. Real estate bubbles have given way to tech bubbles which have given way to housing bubbles and now have given way to a chimerical prosperity that is as fragile as any of the prior ones. Dick Walker pierces the veils of capitalist self-promotion to reveal the bleak consequences of the “technology booms” that have repeatedly crashed over the San Francisco Bay Area. Whether unpacking the real causes of our ongoing housing crisis or detailing the extensive ecological havoc inflicted on our area, this is a recent, definitive, fact-based analysis of it all.

This is one of my all-time favorite books! It was given to me by my nephew Kareem, in 2018. I have read it cover to cover, twice. My handwritten notes are on over 50% of the pages. 

The research that Baradarian put into this book is unparalleled. The book is chockful of facts and data that I never knew about Black history. For example, her research uncovered the fact that the forty acres of land that were to go to the 4 million formerly enslaved Black people after the Civil War was to be sold, not given to Blacks at $1.25 per acre. 

This book is filled with an abundance of typically unknown data, as she admirably tells the history of Blacks in America, through the Black banking industry’s chronicles. 

In the spirit of full transparency, my love for this book preceded the 2019 interview that I did of Baradarian… show more.

In his characteristically funny and sardonic style, Andersen guides us through the historical connection between corporate America and the Republican Party. Needless to say, the relationship has been strong and fruitful (Democrats are guilty as well, but it’s hardly a comparison). He reports on the key conservative figures in both the private and public spheres who have funded and enabled the transformation of our laws and society. It is a remarkable story of power and greed written in concise witty prose. Highly recommend!

This book is a rare attempt by an eminent economic historian to examine cultural determinants of economic growth and answer the question why it happens, which distinguishes it sharply from the discipline’s exclusive focus on how it proceeds.

Landes, in other words, disentangles the explanation of causes from the preoccupation with the process, which is why I recommend this book.