Branko Milanovic: New approaches to inequality
Rethinking Capitalism lecture
Inequality is increasingly recognised as one of the most serious challenges facing modern capitalist economies, in particular in advanced economies. This week’s lectures analyses the dynamics of inequality both globally, in advanced economies and in the UK.
The last quarter century of globalisation has witnessed the largest reshuffle of global incomes since the Industrial revolution. The main factor behind the “reshuffle” was the rise of China, and to a slightly lesser extent, of all Asia. This drove the global Gini index of inequality down by about 2 points over the twenty-year period, 1988–2013. However, inequality in advanced economies has increased, with the the top “1%” exploding away from the middle classes who saw their incomes stagnate.
Inequality in a meritocratic capitalist world
Each week in conjunction with our Rethinking Capitalism lectures, we will be posting a blog article written by Brendan Maton which will complement the content presented in each lecture.
“Inequality in a meritocratic capitalist world” examines Branko Milanovic’s arguments that while there has been an increase in productivity across many economies, not everyone is being equally rewarded for their hard work. Read more.
Our Medium feature page, Rethinking Capitalism, will be updated weekly with content relating to each lecture. In week 8 of Rethinking Capitalism, Money, credit and finance will be presented by Josh Ryan-Collins.
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