Peter Temin is an economist and economic historian, currently a professor at MIT and the former head of the Economics Department. His research interests include macroeconomic history, the Great Depression, industry studies in both the nineteenth and twentieth centuries, and ancient Rome.
I love this book for two reasons. It condenses a massive amount of economic history into a small book, and it shows how our unequal societies are backtracking to older models of the economy.
I
lived through some of the events that Lane Windham describes in her
super-readable and super-informative account of how new types of workers
challenged both their employers and the American labor movement to listen to
them and improve their work lives.
Shipyard workers, department store workers,
office workers – these groups figured out new ways to raise their voices and
“knock on the door” to make themselves heard. The result was big changes in their own lives, in the workplace, and in
America’s unions.
Today, we’re seeing a surge of labor organizing just as groundbreaking as the
initiatives Lane Windham describes. This
made the book especially relevant for me.
The power of unions in workers' lives and in the American political system has declined dramatically since the 1970s. In recent years, many have argued that the crisis took root when unions stopped reaching out to workers and workers turned away from unions. But here Lane Windham tells a different story. Highlighting the integral, often-overlooked contributions of women, people of color, young workers, and southerners, Windham reveals how in the 1970s workers combined old working-class tools--like unions and labor law--with legislative gains from the civil and women's rights movements to help shore up their prospects. Through close-up studies of workers'…
I am the Director of the High Pay Centre, a London-based think tank researching the causes and consequences of economic inequality. In most major economies, the richest 1% of the population now take up to a fifth of all income and something like a quarter to a third of all wealth. These rich jerks aren’t necessarily bad people, at least not in all cases, and we don’t literally need to eat them all. However, such extreme concentration of income and wealth is undeserved and unnecessary, and it should definitely be an overriding priority to share it in a fairer and more even way.
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.
A New York Times #1 Bestseller An Amazon #1 Bestseller A Wall Street Journal #1 Bestseller A USA Today Bestseller A Sunday Times Bestseller A Guardian Best Book of the 21st Century Winner of the Financial Times and McKinsey Business Book of the Year Award Winner of the British Academy Medal Finalist, National Book Critics Circle Award
What are the grand dynamics that drive the accumulation and distribution of capital? Questions about the long-term evolution of inequality, the concentration of wealth, and the prospects for economic growth lie at the heart of political economy. But satisfactory answers have been hard…
I am the Eldon R. Lindsey Chair of Free Enterprise and Professor of Economics and Finance at Shenandoah University in Winchester, Virginia. Most of my writing is academic, including in the Independent Review, Journal of Markets and Morality, and Presidential Studies Quarterly recently. Before pursuing my doctoral degree, I served in the U.S. Army and worked for an insurance company.
This recommendation is more technical than my previous recommendations.
The authors reconstruct many measures of income and income inequality to show that the widening gap indicated by official statistics is an artifact of certain assumptions underlying these statistics.
First, and most importantly, regarding those who are dependent on the social safety net, "income" includes only cash benefits dispensed by the government, not the cash value of non-cash benefits; and, for those who are taxpayers, "income" is defined as before-tax income, not after-tax income.
Second, monetary values are incorrectly corrected by the CPI (the authors propose using the chained-linked CPI).
The book might be considered to present an agenda for further research on the specifics it addresses and similar concerns.
Everything you know about income inequality, poverty, and other measures of economic well-being in America is wrong. In this provocative book, a former United States senator, eminent economist, and a former senior leader at the Bureau of Labor Statistics challenge the prevailing consensus that income inequality is a growing threat to American society. By taking readers on a deep dive into the way government measures economic well-being, they demonstrate that our official statistics dramatically overstate inequality. Getting the facts straight reveals that the key measures of well-being are greater than the…
I have worked on the problems of poverty, particularly in sub-Saharan Africa, for much of my professional life. I worked at the Centre for the Study of African Economies, which is part of the Department of Economics at Oxford University, from 1991 until my retirement in 2012. I continue to work both with the Centre and the Department as a Managing Editor of Oxford Economic Papers and Chief Editor of the Journal of African Economies. My recent book The Poor and the Plutocrats grew out of this background where I wanted to understand the links between very poor countries and those of much richer ones.
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…
Winner of the Bruno Kreisky Prize, Karl Renner Institut A Financial Times Best Economics Book of the Year An Economist Best Book of the Year A Livemint Best Book of the Year
One of the world's leading economists of inequality, Branko Milanovic presents a bold new account of the dynamics that drive inequality on a global scale. Drawing on vast data sets and cutting-edge research, he explains the benign and malign forces that make inequality rise and fall within and among nations. He also reveals who has been helped the most by globalization, who has been held back, and what…
Steven Rogers is a retired professor from Harvard Business School (HBS) where he created a new course titled, “Black Business Leaders and Entrepreneurship.” He has written more HBS case studies with Black protagonists than anyone in the world. He is an HBS and Williams College alum. He majored in Black history. He has taught at the Kellogg School of Management at Northwestern University, and West Point U.S. Military Academy. He has published 3 books including Entrepreneurial Finance (4 editions), Successful Black Entrepreneurs, and A Letter to my White Friends and Colleagues: What You Can Do Now to Help the Black Community.
After interviewing me for my new book in May 2021, the editor of a suburban newspaper in Chicago asked me to write an Op Ed piece about the new federal holiday, Juneteenth. It is the day of recognition and celebration of the ending of slavery in the last confederate state of Texas in 1865. My Op Ed piece titled, “My Bittersweet Feelings About Juneteenth,” was written to inform and educate adult readers about June 19, 1865. That was the day Union Troops arrived in Galveston, Texas, and began informing Black enslaved people that they were officially emancipated.
The Juneteenth Storyis a well-researched and beautifully written historical depiction of the same event. But the targeted audience of readers are children. It is the size of a large typical children’s coloring book filled with pretty colors and appealing graphic art. My 40-year-old daughter, Akilah, gave it to me as a Father’s…
With colorful illustrations and a timeline, this introductory history of Juneteenth for kids details the evolution of the holiday commemorating the date the enslaved people of Texas first learned of their freedom.
On June 19, 1865—more than two years after President Lincoln’s Emancipation Proclamation—the enslaved people of Texas first learned of their freedom. That day became a day of remembrance and celebration that changed and grew from year to year.
Learn about the events that led to emancipation and why it took so long for the enslaved people in Texas to hear the news. The first Juneteenth began as “Jubilee…
For much of my career as a sociologist and professor of social welfare, I’ve focused my research and teaching on the issue of economic and social inequality in America. Why should the United States have both great wealth and yet at the same time extreme poverty and inequities? This question has motivated much of my scholarly and popular writing over the years. For me, this represents the fault line of America. We profess the importance that all are created equal, and yet our actions undermine such a belief. Why should this be the case, and how can we change the reality to reflect the ideal?
Thomas Piketty’s earlier book, Capitalism, was one of those books that many people purchased but only wound up reading the first 20 pages because of its dense argument and writing style.
A Brief History of Capitalism is much more accessible, and in my opinion, useful. The book takes a long-term perspective for examining inequalities among social classes in human societies. Piketty’s argument is that since the end of the 18th century, there has been a long-term movement toward more social, economic, and political equality.
The book provides an excellent overview of inequality across time.
A New York Times Book Review Editors' Choice A Public Books Best Book of the Year
"An opportunity for readers to see Piketty bring his larger argument about the origins of inequality and his program for fighting it into high relief." -Nicholas Lemann, New York Times
The world's leading economist of inequality presents a short but sweeping and surprisingly optimistic history of human progress toward equality despite crises, disasters, and backsliding. A perfect introduction to the ideas developed in his monumental earlier books.
It's easy to be pessimistic about inequality. We know it has increased dramatically in many parts of…
For over 44 years, I have been a writer, speaker, anchor, interviewer, teacher, analyst/commentator, publisher, producer, director, and consultant across different mass media: the written word, the spoken word, and the audio-visual medium – printed publications and websites, radio and podcasts, television, and documentary cinema. As a student of the political economy of India, I have sought to investigate the working of the nexus between business and politics. I am of the view that crony capitalism and oligarchy are at the roots of much that has gone wrong in the country of my birth and domicile which is often described as the “world’s largest democracy”.
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.
A colorful and revealing portrait of the rise of India’s new billionaire class in a radically unequal society
India is the world’s largest democracy, with more than one billion people and an economy expanding faster than China’s. But the rewards of this growth have been far from evenly shared, and the country’s top 1% now own nearly 60% of its wealth. In megacities like Mumbai, where half the population live in slums, the extraordinary riches of India’s new dynasties echo the Vanderbilts and Rockefellers of America's Gilded Age, funneling profits from huge conglomerates into lifestyles of conspicuous consumption.
After receiving my doctorate in Economics at Cambridge University, I embarked on a 35-year sabbatical as a venture capitalist focused on information technology. I learned about the critical role that the American state had played by sponsoring the computer industry. When the "Dotcom Bubble" of the late 1990s grossly overpriced my companies, because I had written my PhD thesis on 1929-1931 when the Bubble of the Roaring Twenties exploded, I had seen the movie before and knew how it ended. I returned to Cambridge determined to tell this saga of innovation at the frontier and the strategic roles played by financial speculation and the state in funding economic transformation."
Philippe Aghion has been one of the pioneers in the development of “Schumpeterian Growth Theory” to model the process of Creative Destruction” that drives technological innovation and economic growth. This is an accessible presentation of the dynamics of the model and the observable consequences in the real world.
I have found it essential for teaching my course on Venture Capital and the Economics of Innovation.
Hayek Book Prize Finalist An Economist Best Book of the Year A Foreign Affairs Best Book of the Year A Financial Times Summer Reading Favorite
"Sweeping, authoritative and-for the times-strikingly upbeat...The overall argument is compelling and...it carries a trace of Schumpeterian subversion." -The Economist
"[An] important book...Lucid, empirically grounded, wide-ranging, and well-argued." -Martin Wolf, Financial Times
"Offers...much needed insight into the sources of economic growth and the kinds of policies that will promote it...All in Washington would do well to read this volume carefully." -Milton Ezrati, Forbes
Inequality is on the rise, growth stagnant, the environment in crisis. Covid seems…
Inequality and fairness are basic issues in human conflict and cooperation that have long fascinated me. Growing up in Louisville, Kentucky, I was confronted with the extreme racial segregation of schools and neighborhoods. My Catholic upbringing taught me to cherish the cardinal virtues of justice, wisdom, courage, and temperance, and my education in political economy taught me that markets can fairly and efficiently allocate resources, when legal power is evenly shared. My formal education culminated in a Ph.D. in Public Affairs from Princeton University, which led me to my current roles: Non-resident Senior Fellow at the Brookings Institution and Principal Economist at Gallup. I care deeply about the social conditions that create cooperation and conflict.
Can ideas change the world? How does belief in political equality—the idea that everyone deserves basic unbridgeable liberties—affect innovation and economic development?
Dierdre McCloskey—one of the most creative and interesting economists alive—takes on these topics and much more in her characteristically witty, fast-paced style. She loves describing and refuting bad ideas—or even ideas widely regarded as brilliant—in an effort to go deeper into the forces that lifted humans out of poverty and sustain innovation to this day.
There's little doubt that most humans today are better off than their forebears. Stunningly so, the economist and historian Deirdre McCloskey argues in the concluding volume of her trilogy celebrating the oft-derided virtues of the bourgeoisie. The poorest of humanity, McCloskey shows, will soon be joining the comparative riches of Japan and Sweden and Botswana. Why? Most economists from Adam Smith and Karl Marx to Thomas Piketty say the Great Enrichment since 1800 came from accumulated capital. McCloskey disagrees, fiercely. "Our riches," she argues, "were made not by piling brick on brick, bank balance on bank balance, but by piling…
