The Haves and the Have-Nots: A Brief and Idiosyncratic History of Global Inequality
by Branko Milanovic · 15 Dec 2010 · 251pp · 69,245 words
might China fall apart, like the USSR and Yugoslavia? Why should we care about differences in income and wealth? In this book of many delights, Branko Milanovic, who has spent twenty-five years studying global inequality, provides us with a veritable Arabian Nights of stories about inequality, drawing from history, literature, and
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subject of economic inequality while you have plenty of fun traveling around the globe and far back in time! Through fascinating stories and wonderful illustrations, Branko Milanovic explains income and wealth inequality—their concepts, measurement, evolution, and role in human life—without compromising precision or balance. This is a delightful book, as
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(Gini decomposition) Sources: François Bourguignon and Christian Morrisson, “The Size Distribution of Income Among World Citizens, 1820-1990,” American Economic Review (September 2002): 727-744; Branko Milanovic, Worlds Apart: Measuring International and Global Inequality (Princeton: Princeton University Press, 2005), fig. 11.3. Marx’s world had thus gone topsy-turvy in some
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too was, Tacitus writes, poisoned on Nero’s orders (bk. 14, chap. 65). 5 Goldsmith, “Estimate of the Size and Structure.” This was estimated by Branko Milanovic, Peter Lindert, and Jeffrey Williamson in “Preindustrial Inequality” (Economic Journal, forthcoming; previous version published as Measuring Ancient Inequality, National Bureau of Economic Research Working Paper
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that are noncontributory and are paid to the poor elderly who, for example, have never worked (and thus have not earned a retirement income). 2 Branko Milanovic, “The Median Voter Hypothesis, Income Inequality, and Income Redistribution: An Empirical Test with the Required Data,” European Journal of Political Economy 16, no. 3 (2000
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to Peter Lindert for very useful comments and suggestions. See also Essay I on both Pareto’s and Kuznets’ theories of income distribution. 2 See Branko Milanovic, “Why We All Do Care About Inequality (but Are Loathe to Admit It),” Challenge 50, no. 6 (2007): 109-120. 3 David Kynaston, review of
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than $PPP 25,000; today it is more than $PPP 40,000. 3 In the previous period, 1990-2000, the gap was even wider (see Branko Milanovic, Why Did the Poorest Countries Fail to Catch Up? Carnegie Working Paper 62, (Washington, DC: Carnegie Endowment for International Peace, September 2005). 4 See also
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in International Comparison (Cambridge: Cambridge University Press, 1998), 95. Essay III 1 Karl Marx, A Contribution to the Critique of Political Economy (preface). 2 See Branko Milanovic, Worlds Apart: Measuring International and Global Inequality (Princeton: Princeton University Press, 2005). The reason we have to use benchmark years is because household surveys are
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of Global Income Inequality (Cambridge: Harvard University Press, 2003); and Robert Lucas, “The Industrial Revolution: Past and Future” (mimeograph, University of Chicago, 1998). 7 See Branko Milanovic, “True World Income Distribution, 1988 and 1993: First Calculations Based on Household Surveys Alone,” Economic Journal 112, no. 476 (2002): 81. 8 Jagdish Bhagwati, In
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. 4 Charles de Montesquieu, Lettres persanes, letter 142. Vignette 3.7 1 Based on joint work with Peter Lindert and Jeffrey Williamson. 2 Defined by Branko Milanovic, “An Estimate of Average Income and Inequality in Byzantium Around Year 1000,” Review of Income and Wealth 52, no. 3 (2006): 449-470; and Milanovic
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Organization World War I, World War II, Worlds Apart (Milanovic) Yeltsin, Boris Yugoslavia Yunnan, China Zambia Zhejiang, China Zimbabwe Zuwarah Zweig, Stefan Copyright © 2011 by Branko Milanovic Published by Basic Books, A Member of the Perseus Books Group All rights reserved. No part of this book may be reproduced in any manner
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@perseusbooks.com. Library of Congress Cataloging-in-Publication Data Milanovic, Branko. The haves and the have-nots : a brief and idiosyncratic history of global inequality / Branko Milanovic. p. cm. Includes bibliographical references and index. eISBN : 978-0-465-02230-4 1. Income distribution—History. 2. Wealth— History. 3. Poverty—History. I. Title
Capitalism, Alone: The Future of the System That Rules the World
by Branko Milanovic · 23 Sep 2019
CAPITALISM, ALONE The Future of the System That Rules the World BRANKO MILANOVIC THE BELKNAP PRESS OF HARVARD UNIVERSITY PRESS Cambridge, Massachusetts London, England 2019 Copyright © 2019 by the President and Fellows of Harvard College All rights reserved
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United States from virtually 0 in 1986 to 22 percent in 2015 (table 7). On monopsony power, see Azar, Marinescu, and Steinbaum (2017). 15. See Branko Milanovic, “Bob Solow on Rents and Decoupling of Productivity and Wages,” Globalinequality blog, May 2, 2015, http://glineq.blogspot.com/2015/05/bob-solow-on-rents
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-the-future-of-manufacturing-led-development. Harrington, Brooke. 2016. Capital without Borders: Wealth Managers and the One Percent. Cambridge, MA: Harvard University Press. Hauner, Thomas, Branko Milanovic, and Suresh Naidu. 2017. “Inequality, Foreign Investment and Imperialism.” Munich Personal RePEc Archive (MPRA), Working Paper 83068, 30 November. https://mpra.ub.uni muenchen.de
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USA, 1960–2005.” Chap. 2 of “The Determinants of Incomes and Inequality: Evidence from Poor and Rich Countries.” PhD diss., Oxford University. Lakner, Christoph, and Branko Milanovic. 2016. “Global Income Distribution: From the Fall of the Berlin Wall to the Great Recession.” World Bank Economic Review 30(2): 203–232. Landes, David
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. Xu Chenggang. 2011. “The Fundamental Institutions of China’s Reforms and Development.” Journal of Economic Literature 49(4): 1076–1151. Yang, Li, Filip Novokmet, and Branko Milanovic. 2019. “From Workers to Capitalists in Less than Two Generations: A Study of Chinese Urban Elite Transformation between 1988 and 2013.” Unpublished manuscript. Yonzan, Nishant
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. 2018. “Assortative Mating and Labor Income Inequality: United States 1970–2017.” Unpublished manuscript. Yonzan, Nishant, Branko Milanovic, Salvatore Morelli, and Janet Gornick. 2018. “Comparing Top Incomes between Survey and Tax Data: US Case Study.” LIS “Inequality Matters” Newsletter, Issue 6, pp. 10
Global Inequality: A New Approach for the Age of Globalization
by Branko Milanovic · 10 Apr 2016 · 312pp · 91,835 words
GLOBAL INEQUALITY A New Approach for the Age of Globalization BRANKO MILANOVIC THE BELKNAP PRESS OF HARVARD UNIVERSITY PRESS Cambridge, Massachusetts London, England 2016 Copyright © 2016 by The President and Fellows of Harvard College All rights reserved
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Library of Congress has cataloged the printed edition as follows: Names: Milanović, Branko, author. Title: Global inequality : a new approach for the age of globalization / Branko Milanovic. Description: Cambridge, Massachusetts : The Belknap Press of Harvard University Press, 2016. | Includes bibliographical references and index. Identifiers: LCCN 2015043601 Subjects: LCSH: Equality. | Income distribution. | Globalization
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the data are available on my website: https://www.gc.cuny.edu/Page-Elements /Academics-Research-Centers-Initiatives/Centers-and-Institutes/Luxembourg-Income-Study-Center/Branko-Milanovic,-Senior-Scholar/Datasets.) In the more recent period, after the year 2000, all household survey data are available at the micro level (the level of
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de la Escosura (2008); 1985 to 2010 from Luxembourg Income Study (http://www.lisdatacenter.org/) and All the Ginis database (http://www.gc.cuny.edu/branko-milanovic). GDP per capita from Maddison Project (2013). The relationship between inequality and income for Italy, with data that start at unification in 1860–61, shows
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Germany, 1882–2010 Data sources: Ginis: 1882 to 1913 from Grant (2002); 1981 to 2010 from All the Ginis database (http://www.gc.cuny.edu/branko-milanovic). GDP per capita from Maddison Project (2013). The data for the Netherlands/Holland go back to the sixteenth century (Figure 2.15). The three early
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Data sources: Ginis: 1561 to 1914 from Soltow and van Zanden (1998); 1962 to 2010 from All the Ginis database (http://www.gc.cuny.edu/branko-milanovic). GDP per capita from Maddison Project (2013). Kuznets waves: Brazil and Chile. We move next to South America, where we have long-term data for
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); 1870 to 1920 (second series) from Bértola et al. (2009, table 4); 1960 to 2012, from All the Ginis database (http://www.gc.cuny.edu/branko-milanovic). GDP per capita from Maddison Project (2013). The data for Chile are most interesting. They have been developed by Javier Rodríguez Weber (2014) by an
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) for Japan, 1895–2011 Data sources: Ginis: 1895–1937 from Minami (1998, 2008); 1962–2011 from All the Ginis database (http://www.gc.cuny.edu/branko-milanovic). GDP per capita from Maddison Project (2013). The logic of Kuznets waves. It is the interplay between economic and political factors that drives Kuznets waves
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increased steadily since the reforms started (after 1975) but has recently been stable. Data sources: Ginis: All the Ginis database (http://www.gc.cuny.edu/branko-milanovic), calculated from the official Chinese household surveys. GDP per capita from Maddison Project (2013). If evidence showing absence of a further increase in income inequality
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. 2014. “Wages, Capital and Top Incomes: The Factor Income Composition of Top Incomes in the USA, 1960–2005.” Unpublished ms., November version. Lakner, Christoph, and Branko Milanovic. 2013. “Global Income Distribution: From the Fall of the Berlin Wall to the Great Recession.” World Bank, Policy Research Working Paper, no. 6719, December. Available
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at http://elibrary.worldbank.org/doi/pdf/10.1596/1813-9450-6719. Lakner, Christoph, and Branko Milanovic. 2015. “Global Income Distribution: From the Fall of the Berlin Wall to the Great Recession.” World Bank Economic Review, Advance Access published August 12, 2015
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. Princeton: Princeton University Press. UBS. 2009. Prices and Earnings: A Comparison of Purchasing Power around the Globe. Zurich: UBS AG. van der Weide, Roy, and Branko Milanovic. 2014. “Inequality Is Bad for the Growth of the Poor (But Not for That of the Rich).” World Bank Working Paper, no. 6963, July. Available
Visions of Inequality: From the French Revolution to the End of the Cold War
by Branko Milanovic · 9 Oct 2023
restrictions on the use of this accessible media, which could be a book, a periodical, or other content. Copyright Notice Title: Visions of Inequality Author: Branko Milanovic Copyright 2023 by the President and Fellows of Harvard College This notice is not part of the copyrighted work, which begins below after the phrase
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book quality issue See all reported book quality issues Begin Content VISIONS OF INEQUALITY From the French Revolution to the End of the Cold War BRANKO MILANOVIC The Belknap Press of Harvard University Press Cambridge, Massachusetts London, England 2023 Copyright © 2023 by the President and Fellows of Harvard College All rights reserved
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CATALOGED THE PRINTED EDITION AS FOLLOWS: Names: Milanović, Branko, author. Title: Visions of inequality : from the French Revolution to the end of the Cold War / Branko Milanovic. Description: Cambridge, Massachusetts ; London, England : Belknap Press of Harvard University Press, 2023. | Includes bibliographical references and index. Identifiers: LCCN 2022062085 Subjects: LCSH: Income distribution—History
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), as reworked by Peter H. Lindert and Jeffrey G. Williamson, “Revising England’s Social Tables 1688–1812,” Explorations in Economic History 19 (1982): 385–408; Branko Milanovic, Peter Lindert, and Jeffrey Williamson “Pre-industrial Inequality,” Economic Journal, 121:1 (2011): 255–272; Maddison Project Database, 2020. Inequality in England, calculated from contemporary
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to the top decile (by amount of bribery or embezzlement) of the cases of corruption, as reported by government judiciary authorities. Data source: Li Yang, Branko Milanovic, and Yaoqi Lin, “Anti-Corruption Campaign in China: An Empirical Investigation,” Stone Center on Socio-Economic Inequality Working Paper 64, April 2023. Fundamentally in agreement
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amount of per capita social transfers across the ten deciles of income distribution. Equal per capita distribution = 1. Č SSR = Czechoslovak Socialist Republic. Reformatted from Branko Milanovic, Income, Inequality, and Poverty during the Transition from Planned to Market Economy (Washington, DC: World Bank, 1998), fig. 2.1, 17. The equation can be
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exercise. Gianni Vaggi, The Economics of François Quesnay (Durham, NC: Duke University Press, 1987), 187. 5 . For estimates of French inequality and mean income, see Branko Milanovic, “The Level and Distribution of Income in Mid-18th Century France, According to Fran ç ois Quesnay,” Journal of the History of Economic Thought 37
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Oxford Working Paper , No. 2017–01 (2016); Peter Lindert, “Unequal British Wealth since 1867,” Journal of Political Economy 94, no. 6 (1986): 1127–1162. 8 . Branko Milanovic, Peter Lindert, and Jeffrey Williamson, “Pre-industrial Inequality,” Economic Journal 121, no. 1 (2011): 255–272. 9 . Milanovic, “Level and Distribution of Income,” table 4
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. 10 . Branko Milanovic “Towards an Explanation of Inequality in Pre-modern Societies: The Role of Colonies, Urbanization, and High Population Density,” Economic History Review 71, no. 4 (2018
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, and farm servants” (98). 29 . Peter Lindert and Jeffrey Williamson, “Reinterpreting Britain’s Social Tables 1688–1911,” Explorations in Economic History 20 (1983): 94–109; Branko Milanovic, Peter Lindert, and Jeffrey Williamson, “Pre-industrial Inequality,” Economic Journal 121, no. 1 (2011): 255–272; Allen, “Class Structure and Inequality.” 30 . Mitchell, Types of
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in 1910; and Paul A. Baran and Paul Sweezy, Monopoly Capital (New York: Monthly Review Press, 1966). 103 . Branko Milanovic Capitalism, Alone (Cambridge, MA: Belknap Press of Harvard University Press, 2019); Yonatan Berman and Branko Milanovic, “Homoploutia: Top Labor and Capital Incomes in the United States, 1950–2020,” Working Paper No. 28, Stone Center
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New York, December 2020, https:// stonecenter .gc .cuny .edu /research /homoploutia -top -labor -and -capital -incomes -in -the -united -states -1950 -2020 / . Marco Ranaldi and Branko Milanovic, “Capitalist Systems and Income Inequality,” Journal of Comparative Economics 50, no. 1 (2022): 20–32. 104 . Marx, Capital, vol. III, ch. 30, 615. 105 . Marx
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. Smith (New York: National Bureau of Economic Research, 1975), 235. 47 . Frank Cowell, Measuring Inequality, 3rd ed. (Oxford: Oxford University Press, 2011). 48 . Li Yang, Branko Milanovic, and Yaoqi Lin, “Anti-Corruption Campaign in China: An Empirical Investigation,” Stone Center on Socio-Economic Inequality Working Paper 64, April 2023. 49 . Pareto, Manual
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Kuznets, “Regional Economic Trends and Levels of Living” (1954), reprinted in Kuznets, Economic Growth and Structure: Selected Essays (New York: W. W. Norton, 1965). 3 . Branko Milanovic, Worlds Apart: Measuring International and Global Inequality (Princeton, NJ: Princeton University Press, 2005), 7–11. 4 . Kuznets, “Regional Economic Trends,” Table 8, 165. 5 . My
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Higgins and Jeffrey Williamson, “Explaining Inequality the World Round: Cohort Size, Kuznets Curves, and Openness,” Working Paper 7224, National Bureau of Economic Research, July 1999. Branko Milanovic, “Determinants of Cross-country Income Inequality: An ‘Augmented’ Kuznets Hypothesis,” in Equality, Participation, Transition: Essays in Honour of Branko Horvat, ed. V. Frani č evi
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Zanden, “Tracing the Beginning of the Kuznets Curve: Western Europe during the Early Modern Period,” Economic History Review 48, no. 4 (1995): 1–23. 34 . Branko Milanovic, Global Inequality: A New Approach for the Age of Globalization (Cambridge, MA: Harvard University Press, 2016), 50. 35 . Milanovic, Global Inequality, ch. 2. 36 . Anthony
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and Mark Thomas, “Introduction,” in Income Distribution in Historical Perspective, ed. Y. S. Brenner, H. Kaelble, and M. Thomas (New York: Cambridge University Press, 1991); Branko Milanovic, “Determinants of Cross-country Income Inequality: An ‘Augmented’ Kuznets Hypothesis,” in Equality, Participation, Transition Essays in Honour of Branko Horvat, ed. V. Frani č evi
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the change in the composition of the Chinese “elite” (the richest 5 percent of the population) between 1988 and 2013. Li Yang, Filip Novokmet, and Branko Milanovic, “From Workers to Capitalists in Less Than Two Generations: A Study of Chinese Urban Elite Transformation between 1988 and 2013,” British Journal of Sociology 72
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и потребление населения СССР [Income and consumption of households of the USSR] (Moscow: Statistika, 1980). 47 . Atkinson and Micklewright, Economic Transformation in Eastern Europe. 48 . Branko Milanovic, Income, Inequality, and Poverty during the Transition from Planned to Market Economy (Washington, DC: World Bank, 1998). 49 . Atkinson and Micklewright, Economic Transformation in Eastern
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Inequality (Oxford: Clarendon Press, 1975). 102 . Atkinson, “Bringing Income Distribution in from the Cold,” 311. 103 . Last several paragraphs on wage studies are based on Branko Milanovic, “Basic Difference between Wage Inequality and Income Inequality Studies,” blog post, Global Inequality blogspot, December 1, 2020, http:// glineq .blogspot .com /2020 /12 /basic -difference
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. Thomas Piketty, Top Incomes in France in the Twentieth Century: Inequality and Redistribution, 1901–1998 (Cambridge, MA: Belknap Press of Harvard University Press, 2018). 6 . Branko Milanovic, “The Return of ‘Patrimonial Capitalism’: Review of Thomas Piketty’s Capital in the 21st Century, ” Journal of Economic Literature, 52, no. 2 (2014): 519–534
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. 7 . Branko Milanovic, Global Inequality: A New Approach for the Age of Globalization (Cambridge, MA: Harvard University Press, 2016). 8 . Thomas Piketty, Capital and Ideology (Cambridge, MA: Belknap
The Great Leveler: Violence and the History of Inequality From the Stone Age to the Twenty-First Century
by Walter Scheidel · 17 Jan 2017 · 775pp · 208,604 words
to track and explain this history in the very long run. One of the first to draw my attention to this very long run was Branko Milanovic, a world expert on inequality who in his own research has reached all the way back to antiquity. If there were more economists like him
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of these events: Ulrike Krotscheck, Peter Bang, Carl Hampus Lyttkens, Liu Jinyu, and Hu Yujuan. David Christian, Joy Connolly, Peter Garnsey, Robert Gordon, Philip Hoffman, Branko Milanovic, Joel Mokyr, Reviel Netz, Şevket Pamuk, David Stasavage, and Peter Turchin very kindly read and commented on the whole manuscript. Kyle Harper, William Harris, Geoffrey
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. I am extremely grateful to a number of colleagues who generously shared their unpublished work with me: Guido Alfani, Kyle Harper, Michael Jursa, Geoffrey Kron, Branko Milanovic, Ian Morris, Henrik Mouritsen, Josh Ober, Peter Lindert, Bernhard Palme, Şevket Pamuk, Mark Pyzyk, Ken Scheve, David Stasavage, Peter Turchin, and Jeffrey Williamson. Brandon Dupont
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and Joshua Rosenbloom very helpfully generated and shared statistics on wealth distribution in the United States during the Civil War period. Leonardo Gasparini, Branko Milanovic, Şevket Pamuk, Leandro Prados de la Escosura, Ken Scheve, Mikael Stenkula, Rob Stephan, and Klaus Wälde kindly sent me data files. Stanford economics major Andrew
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almost three-quarters of all income but self-employment for less than a tenth of that amount—and there was no income from property. As Branko Milanovic puts it, observed income distributions “were logical extensions of the ideological premises of Communism,” with their emphasis on state-disbursed incomes, collective consumption, wage compression
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. In the second chapter, I already noted such tendencies in Chinese and Roman history. However, it is not enough to envision homeostatic interactions whereby, in Branko Milanovic’s words, rising inequality indeed sets in motion forces, often of a destructive nature, that ultimately lead to its decrease but in the process destroy
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, ~1 can never be reached in practice, because everyone needs a minimum amount of income just to stay alive. To account for this basic requirement, Branko Milanovic, Peter Lindert, and Jeffrey Williamson developed the concept of the “Inequality Possibility Frontier” (IPF), a measure that determines the highest theoretically possible degree of inequality
The Jakarta Method: Washington's Anticommunist Crusade and the Mass Murder Program That Shaped Our World
by Vincent Bevins · 18 May 2020 · 393pp · 115,178 words
, suffering peoples of the communist world? Did the triumph of global capitalism mean victory for them too? Were they rewarded with prosperity and democracy? Economist Branko Milanovic, one of the world’s foremost experts on global inequality, born and raised in communist Yugoslavia, asked those questions on the twenty-fifth anniversary of
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Roberto Martins Filho, Fathi Alfadl, Ascanio Cavallo, Hector Reyes, Mario Castañeda, Noam Chomsky, Ben Kiernan, Alfred McCoy, Vijay Prashad, Patrice McSherry, Federico Finchelstein, Jason Hickel, Branko Milanovic, Frederick Cooper, Ben Fogel, Adam Shatz, Kate Doyle, Tim Weiner, Sean Jacobs, Alexander Aviña, E. Ahmet Tonak, Ghassane Koumiya, Raimundos Oki, and Carlos H. Conde
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and South Vietnam, December 1961, accessible via the CIA FOIA Reading Room, www.cia.gov/library/readingroom/docs/CIA-RDP79R01141A002200070001-8.pdf. ***** Data provided by Branko Milanovic, who relied on World Bank World Development Indicators, and adjusted using PWT91 Price Index. Appendix 2 The World Today: The 25 Most Populous Countries (plus
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, and South Africa, one of the world’s most unequal nations, has a GINI index of 65. Data for the graph was provided by economist Branko Milanovic. The dotted line (weighted by country population) more clearly shows the effects of Chinese growth. For more on his methods, see
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Branko Milanovic, Global Inequality. Appendix 4 Global Inequality, 1960–2017 This graph is reproduced with permission from Jason Hickel, The Divide (William Heinemann, 2017). Appendix 5 Anticommunist
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Nair, “Most Americans Vastly Underestimate How Rich They Are Compared with the Rest of the World. Does It Matter?” Washington Post, August 23, 2018. 4. Branko Milanovic, “Income, Inequality, and Poverty during the Transition from Planned to Market Economy,” World Bank Regional and Sectoral Studies, chap. 3, www.gc.cuny.edu/CUNY
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_GC/media/CUNY-Graduate-Center/PDF/Centers/LIS/Milanovic/papers/Income_ineq_poverty_book.pdf. 5. Branko Milanovic, “For Whom the Wall Fell?” The Globalist, November 7, 2014. 6. Westad, The Global Cold War, 387. 7. On the “strong and widespread global trend
Stakeholder Capitalism: A Global Economy That Works for Progress, People and Planet
by Klaus Schwab · 7 Jan 2021 · 460pp · 107,454 words
true. Some of the facts we face today reveal this. Inequality in fact began rising again in highly developed countries. In a 2016 note, economist Branko Milanovic suggested that the current upswing in inequality could be viewed "as a second Kuznets curve", or indeed, as a "Kuznets wave" (Figure 2.2). Income
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even at the time, Kuznets found “factors that arose during the course of growth, and that created pressures both to increase and to reduce inequality.” Branko Milanovic, a former lead economist at the World Bank, recently tried to build a new Kuznets curve in light of these insights. Kuznets notably pointed to
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Ownership,” Robin Wigglesworth, Financial Times, February 2020, https://www.ft.com/content/2501e154-4789-11ea-aeb3-955839e06441. 51 It is nevertheless interesting to note, as Branko Milanovic has done, that while wealth inequality—driven primarily by stock ownership—is large and growing, there is no longer a true “capitalist” class as Karl
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hard line against immigration and its anti-EU campaign in the previous elections caused considerable friction with the more centrist parties in the EPP. Economist Branko Milanovic summarized this ever-more worrying trend in a graph (see Figure 4.1). Besides the center-right parties moving further to the right, radical right
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4.1 Percentage of Vote for Right-Wing Populist Parties in Parliamentary Elections around 2000 and the Most Recent Elections (2017–2019) Source: Redrawn from Branko Milanovic. Others have pointed to the nationalist and authoritarian turn taken by political leaders in other G20 countries such as China, India, Russia, and Turkey. In
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, both within various countries and around the world, I refer to the excellent book Global Inequality: A New Approach for the Age of Globalization, by Branko Milanovic. He discusses the state and evolution of income, wealth, and opportunity inequality in a global and historical context and includes many qualifications I have left
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the middle of Western industrialized nations. In this Third Industrial Revolution, emerging markets finally got a fair share of the pie. Economists Christoph Lakner and Branko Milanovic showed the effect in their well-known “elephant” graph.44 It illustrated that from 1988, as the IT revolution was in full swing, until 2008
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Global Income Distribution From the Fall of the Berlin Wall to the Great Recession, Christoph Lakner and Branko Milanovic, World Bank, December 2013, http://documents.worldbank.org/curated/en/914431468162277879/pdf/WPS6719.pdf 45 “Deconstructing Branko Milanovic's ‘Elephant Chart’: Does It Show What Everyone Thinks?” Caroline Freund, PIIE, November 2016, https://www.piie
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.com/blogs/realtime-economic-issues-watch/deconstructing-branko-milanovics-elephant-chart-does-it-show. 46 US District Court for the District of Columbia - 97 F. Supp. 2d 59 (D.D.C. 2000), June 7,
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not for state capitalism, large parts of the developing world may not have seen a major growth spurt at all. But as economists such as Branko Milanovic (in his book Capitalism, Alone) have argued, state capitalism too has its fundamental flaws. Most importantly, given the hegemony of the state, corruption is a
Capitalism and Its Critics: A History: From the Industrial Revolution to AI
by John Cassidy · 12 May 2025 · 774pp · 238,244 words
-impasse-by-magical. 39. Jason Hickel, “Degrowth: A Response to Branko Milanovic,” October 27, 2020, https://www.jasonhickel.org/blog/2017/11/19/why-branko-milanovic-is-wrong-about-de-growth. 40. Jason Hickel, Less Is More: How Degrowth Will Save the World (London: William
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, Angus Maddison. Retrieved from https://ourworldindata.org/grapher/global-average-gdp-per-capita-over-the-long-run. “Elephant Curve” graph (here), from Christoph Lakner and Branko Milanovic, “Global Income Distribution: From the Fall of the Berlin Wall to the Great Recession,” Policy Research Working Paper WPS6719, World Bank, December 2013, http://documents
Plutocrats: The Rise of the New Global Super-Rich and the Fall of Everyone Else
by Chrystia Freeland · 11 Oct 2012 · 481pp · 120,693 words
more richly clad and better housed. The landlord has books and pictures rarer and appointments more artistic than the king could then obtain. —Andrew Carnegie Branko Milanovic is an economist at the World Bank. He first became interested in income inequality studying for his PhD in the 1980s in his native Yugoslavia
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one of the surest ways to join today’s global super-elite. WHO WAS THE RICHEST MAN IN HISTORY? In fact, according to calculations by Branko Milanovic, the richest man who ever lived isn’t a Russian oligarch, but he does owe much of his fortune to the great wave of liberalization
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of academic research. Some scholars have become important sounding boards and advisers, too. They include Larry Summers, Daron Acemoglu, Emmanuel Saez, Jacob Hacker, Alan Krueger, Branko Milanovic, Daniel Kaufmann, Ian Bremmer, Peter Lindert, Michael Spence, Joe Stiglitz, Theda Skocpol, Anders Aslund, Roman Frydman, Rob Johnson, Sergei Guriev, Michael McFaul, Ernesto Zedillo, John
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, and Ivan Bowley. NOTES INTRODUCTION “The poor enjoy what the rich” Andrew Carnegie, “Wealth,” North American Review 148:391 (June 1889). “I was once told” Branko Milanovic, The Haves and the Have-Nots: A Brief and Idiosyncratic History of Global Inequality (Basic Books, 2011), p. 84. “I didn’t attack them for
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). In 1980, the average U.S. CEO “CEO Pay and the 99%,” AFL-CIO Executive PayWatch report, April 19, 2012. Milanovic, the World Bank economist Branko Milanovic, “Global Inequality: From Class to Location, from Proletarians to Migrants” (World Bank Development Research Group Policy Research Working Paper 5820, September 2011). “Britain’s classic
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Russia’s oligarchs Steven Nafziger and Peter Lindert, “Russian Inequality on the Eve of the Revolution” (working paper, March 13, 2011). according to calculations by Branko Milanovic Branko Milanovic, The Haves and the Have Nots: A Brief and Idiosyncratic History of Global Inequality (Basic Books, 2011), pp. 41–45. “A person must be rich
The Butterfly Defect: How Globalization Creates Systemic Risks, and What to Do About It
by Ian Goldin and Mike Mariathasan · 15 Mar 2014 · 414pp · 101,285 words
stagnated—if not in absolute terms, certainly relative to skill levels. Evidence of such a skill premium is provided, for example, by World Bank researcher Branko Milanović, who reports that wage differentials between rich and poor cities are higher for low-skilled earners (table 7.1). The OECD also finds evidence of
After the New Economy: The Binge . . . And the Hangover That Won't Go Away
by Doug Henwood · 9 May 2005 · 306pp · 78,893 words
Stakeholder Capitalism: A Global Economy That Works for Progress, People and Planet
by Klaus Schwab and Peter Vanham · 27 Jan 2021 · 460pp · 107,454 words
Enlightenment Now: The Case for Reason, Science, Humanism, and Progress
by Steven Pinker · 13 Feb 2018 · 1,034pp · 241,773 words
The Economics of Belonging: A Radical Plan to Win Back the Left Behind and Achieve Prosperity for All
by Martin Sandbu · 15 Jun 2020 · 322pp · 84,580 words
Equality
by Darrin M. McMahon · 14 Nov 2023 · 534pp · 166,876 words
The Retreat of Western Liberalism
by Edward Luce · 20 Apr 2017 · 223pp · 58,732 words
The Great Surge: The Ascent of the Developing World
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The Globalization of Inequality
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Growth: A Reckoning
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The Capitalist Manifesto
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The Vanishing Middle Class: Prejudice and Power in a Dual Economy
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Superclass: The Global Power Elite and the World They Are Making
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More From Less: The Surprising Story of How We Learned to Prosper Using Fewer Resources – and What Happens Next
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The Technology Trap: Capital, Labor, and Power in the Age of Automation
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Life You Can Save: Acting Now to End World Poverty
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Radical Markets: Uprooting Capitalism and Democracy for a Just Society
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Exceptional People: How Migration Shaped Our World and Will Define Our Future
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It's Better Than It Looks: Reasons for Optimism in an Age of Fear
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Head, Hand, Heart: Why Intelligence Is Over-Rewarded, Manual Workers Matter, and Caregivers Deserve More Respect
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Utopia for Realists: The Case for a Universal Basic Income, Open Borders, and a 15-Hour Workweek
by Rutger Bregman · 13 Sep 2014 · 235pp · 62,862 words
Planet of Slums
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Angrynomics
by Eric Lonergan and Mark Blyth · 15 Jun 2020 · 194pp · 56,074 words
Two Nations, Indivisible: A History of Inequality in America: A History of Inequality in America
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Capitalism Without Capital: The Rise of the Intangible Economy
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The Economics of Enough: How to Run the Economy as if the Future Matters
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Profiting Without Producing: How Finance Exploits Us All
by Costas Lapavitsas · 14 Aug 2013 · 554pp · 158,687 words
Markets, State, and People: Economics for Public Policy
by Diane Coyle · 14 Jan 2020 · 384pp · 108,414 words
Grave New World: The End of Globalization, the Return of History
by Stephen D. King · 22 May 2017 · 354pp · 92,470 words
The Levelling: What’s Next After Globalization
by Michael O’sullivan · 28 May 2019 · 756pp · 120,818 words
Endless Money: The Moral Hazards of Socialism
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Doughnut Economics: Seven Ways to Think Like a 21st-Century Economist
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Belt and Road: A Chinese World Order
by Bruno Maçães · 1 Feb 2019 · 281pp · 69,107 words
Arrival City
by Doug Saunders · 22 Mar 2011 · 366pp · 117,875 words
The Great Divide: Unequal Societies and What We Can Do About Them
by Joseph E. Stiglitz · 15 Mar 2015 · 409pp · 125,611 words
Seventeen Contradictions and the End of Capitalism
by David Harvey · 3 Apr 2014 · 464pp · 116,945 words
More: The 10,000-Year Rise of the World Economy
by Philip Coggan · 6 Feb 2020 · 524pp · 155,947 words
Doing Good Better: How Effective Altruism Can Help You Make a Difference
by William MacAskill · 27 Jul 2015 · 293pp · 81,183 words
Inequality and the 1%
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Uncomfortably Off: Why the Top 10% of Earners Should Care About Inequality
by Marcos González Hernando and Gerry Mitchell · 23 May 2023
Postcapitalism: A Guide to Our Future
by Paul Mason · 29 Jul 2015 · 378pp · 110,518 words
The Great Escape: Health, Wealth, and the Origins of Inequality
by Angus Deaton · 15 Mar 2013 · 374pp · 114,660 words
The Great Convergence: Information Technology and the New Globalization
by Richard Baldwin · 14 Nov 2016 · 606pp · 87,358 words
The Road to Somewhere: The Populist Revolt and the Future of Politics
by David Goodhart · 7 Jan 2017 · 382pp · 100,127 words
Tenants: The People on the Frontline of Britain's Housing Emergency
by Vicky Spratt · 18 May 2022 · 371pp · 122,273 words
Limitarianism: The Case Against Extreme Wealth
by Ingrid Robeyns · 16 Jan 2024 · 327pp · 110,234 words
The Glass Half-Empty: Debunking the Myth of Progress in the Twenty-First Century
by Rodrigo Aguilera · 10 Mar 2020 · 356pp · 106,161 words
Success and Luck: Good Fortune and the Myth of Meritocracy
by Robert H. Frank · 31 Mar 2016 · 190pp · 53,409 words
Seasteading: How Floating Nations Will Restore the Environment, Enrich the Poor, Cure the Sick, and Liberate Humanity From Politicians
by Joe Quirk and Patri Friedman · 21 Mar 2017 · 441pp · 113,244 words
Eurowhiteness: Culture, Empire and Race in the European Project
by Hans Kundnani · 16 Aug 2023 · 198pp · 54,815 words
The Great Divergence: America's Growing Inequality Crisis and What We Can Do About It
by Timothy Noah · 23 Apr 2012 · 309pp · 91,581 words
Connectography: Mapping the Future of Global Civilization
by Parag Khanna · 18 Apr 2016 · 497pp · 144,283 words
Capital in the Twenty-First Century
by Thomas Piketty · 10 Mar 2014 · 935pp · 267,358 words
How Did We Get Into This Mess?: Politics, Equality, Nature
by George Monbiot · 14 Apr 2016 · 334pp · 82,041 words
The New Silk Roads: The Present and Future of the World
by Peter Frankopan · 14 Jun 2018 · 352pp · 80,030 words
The Great Demographic Reversal: Ageing Societies, Waning Inequality, and an Inflation Revival
by Charles Goodhart and Manoj Pradhan · 8 Aug 2020 · 438pp · 84,256 words
Undoing the Demos: Neoliberalism's Stealth Revolution
by Wendy Brown · 6 Feb 2015
Second World: Empires and Influence in the New Global Order
by Parag Khanna · 4 Mar 2008 · 537pp · 158,544 words
The Age of Stagnation: Why Perpetual Growth Is Unattainable and the Global Economy Is in Peril
by Satyajit Das · 9 Feb 2016 · 327pp · 90,542 words
Empty Planet: The Shock of Global Population Decline
by Darrell Bricker and John Ibbitson · 5 Feb 2019 · 280pp · 83,299 words
The Growth Delusion: Wealth, Poverty, and the Well-Being of Nations
by David Pilling · 30 Jan 2018 · 264pp · 76,643 words
The Great Economists: How Their Ideas Can Help Us Today
by Linda Yueh · 15 Mar 2018 · 374pp · 113,126 words
The Divide: A Brief Guide to Global Inequality and Its Solutions
by Jason Hickel · 3 May 2017 · 332pp · 106,197 words
Adam Smith: Father of Economics
by Jesse Norman · 30 Jun 2018
What Would the Great Economists Do?: How Twelve Brilliant Minds Would Solve Today's Biggest Problems
by Linda Yueh · 4 Jun 2018 · 453pp · 117,893 words
The Cost of Inequality: Why Economic Equality Is Essential for Recovery
by Stewart Lansley · 19 Jan 2012 · 223pp · 10,010 words
The Making of Global Capitalism
by Leo Panitch and Sam Gindin · 8 Oct 2012 · 823pp · 206,070 words
The Billionaire Raj: A Journey Through India's New Gilded Age
by James Crabtree · 2 Jul 2018 · 442pp · 130,526 words
Cities Are Good for You: The Genius of the Metropolis
by Leo Hollis · 31 Mar 2013 · 385pp · 118,314 words
Unsustainable Inequalities: Social Justice and the Environment
by Lucas Chancel · 15 Jan 2020 · 191pp · 51,242 words
Stubborn Attachments: A Vision for a Society of Free, Prosperous, and Responsible Individuals
by Tyler Cowen · 15 Oct 2018 · 140pp · 42,194 words
Trade Wars Are Class Wars: How Rising Inequality Distorts the Global Economy and Threatens International Peace
by Matthew C. Klein · 18 May 2020 · 339pp · 95,270 words
Last Best Hope: America in Crisis and Renewal
by George Packer · 14 Jun 2021 · 173pp · 55,328 words
The Aristocracy of Talent: How Meritocracy Made the Modern World
by Adrian Wooldridge · 2 Jun 2021 · 693pp · 169,849 words
Factfulness: Ten Reasons We're Wrong About the World – and Why Things Are Better Than You Think
by Hans Rosling, Ola Rosling and Anna Rosling Rönnlund · 2 Apr 2018 · 288pp · 85,073 words
Rich White Men: What It Takes to Uproot the Old Boys' Club and Transform America
by Garrett Neiman · 19 Jun 2023 · 386pp · 112,064 words
Rogue States
by Noam Chomsky · 9 Jul 2015
The Unknowers: How Strategic Ignorance Rules the World
by Linsey McGoey · 14 Sep 2019
Dream Hoarders: How the American Upper Middle Class Is Leaving Everyone Else in the Dust, Why That Is a Problem, and What to Do About It
by Richard V. Reeves · 22 May 2017 · 198pp · 52,089 words
The Inequality Puzzle: European and US Leaders Discuss Rising Income Inequality
by Roland Berger, David Grusky, Tobias Raffel, Geoffrey Samuels and Chris Wimer · 29 Oct 2010 · 237pp · 72,716 words
Them and Us: How Immigrants and Locals Can Thrive Together
by Philippe Legrain · 14 Oct 2020 · 521pp · 110,286 words
The Global Auction: The Broken Promises of Education, Jobs, and Incomes
by Phillip Brown, Hugh Lauder and David Ashton · 3 Nov 2010 · 209pp · 80,086 words
Leading From the Emerging Future: From Ego-System to Eco-System Economies
by Otto Scharmer and Katrin Kaufer · 14 Apr 2013 · 351pp · 93,982 words
The Future Is Asian
by Parag Khanna · 5 Feb 2019 · 496pp · 131,938 words
The People vs. Democracy: Why Our Freedom Is in Danger and How to Save It
by Yascha Mounk · 15 Feb 2018 · 497pp · 123,778 words