BRANKO MILANOVIC THE HAVES AND THE HAVE-NOTS PDF

Shelves: nonfiction , economics This is one of the most delightful short economics books I have read--and certainly the most delightful on the topic of inequality. The book covers three types of inequality: inequality of people within a country e. The book is organized in three chapters that each explain one of the inequality concepts followed by about 10 vignettes per chapter. Very highly recommended. Due to my respect for him as a teacher and how much I enjoyed his class, I decided to check it out.

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Start free Blinkist trial Upgrade to Premium Read or listen now Synopsis The Haves and the Have-Nots shows how inequality throughout history has made its mark on society at large. Key idea 1 of 9 Inequality between individuals can change depending on developments in society. Do you think a capitalist society would have different levels of inequality than would a socialist society? In the early s, Italian economist Vilfredo Pareto, a pioneer in the field of inequality, was the first scholar to study inequality in terms of income distribution among individuals rather than among classes.

In turn, this means that the wealthiest 20 percent of the population controls 80 percent of the total income. As a result, Pareto believed that levels of inequality would always remain more or less unchanged.

Russian-American economist Simon Kuznets challenged this idea in when he theorized that inequality among individuals does, in fact, change as society changes. After conducting extensive research, Kuznets found that economic growth initially increases income inequality, but later decreases it.

When society shifted from an agricultural focus to an industrial focus, the new industrial class began to earn much more money than did farmers, and thus income inequality increased. As society advanced, however, increased education and progressive state policies — such as government spending, taxes and other forms of income redistribution — caused income inequality to stall and eventually decrease. Key ideas in this title Inequality between individuals can change depending on developments in society.

Inequality is intertwined with both economic growth and economic justice. While there are ways to measure inequality, doing so is still a difficult task. For now, we have Gini. We can compare the inequalities of countries and individuals across different eras.

Although socialism was more egalitarian than capitalism, it diminishes the incentive to work. Inequality among countries emerged after the Industrial Revolution and has continued to rise. We can compare inequality among nations by examining Gini scores and the global middle class. Final summary.

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Branko Milanović

Updated Updated with additional explanation of how the chart controls for different costs of living around the world. The graph shows inequality within a country, in the context of inequality around the world. Here the population of each country is divided into 20 equally-sized income groups, ranked by their household per-capita income. The household income numbers are all converted into international dollars adjusted for equal purchasing power , since the cost of goods varies from country to country. In other words, the chart adjusts for the cost of living in different countries, so we are looking at consistent living standards worldwide. Now on the vertical axis, you can see where any given ventile from any country falls when compared to the entire population of the world. For example, trace the line for Brazil, a country with extreme income inequality.

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The Haves and the Have-Nots: A Brief and Idiosyncratic History of Global Inequality

Start free Blinkist trial Upgrade to Premium Read or listen now Synopsis The Haves and the Have-Nots shows how inequality throughout history has made its mark on society at large. Key idea 1 of 9 Inequality between individuals can change depending on developments in society. Do you think a capitalist society would have different levels of inequality than would a socialist society? In the early s, Italian economist Vilfredo Pareto, a pioneer in the field of inequality, was the first scholar to study inequality in terms of income distribution among individuals rather than among classes. In turn, this means that the wealthiest 20 percent of the population controls 80 percent of the total income.

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