Share the Wealth: How to End Rentier Capitalism

Philippe Askenazy argues that the current share of wealth is far from natural and results from rising rents and their capture by the most endowed actors in the economic game. He proposes a new description of the capital-work relationship and calls for a remobilization of the world of work, particularly poorly paid employees, to reduce inequalities and make work better recognized and paid.

Format: Paperback / softback
Length: 208 pages
Publication date: 28 January 2021
Publisher: Verso Books

Reducing inequalities and improving the recognition and pay of work are crucial issues that require attention and action. In his new book, Philippe Askenazy argues that the current distribution of wealth is far from natural and is largely driven by rising rents, which are captured by those with the most economic advantages. The world of work suffers as a result of this race for rents, with many workers contributing to capital rents through increased productivity but facing stigmatization as unproductive and stagnant earnings.

Askenazy proposes a new perspective on the capital-work relationship, advocating for a remobilization of the world of work, particularly those employees who are poorly paid. He suggests that there is a more radical alternative to neoliberalism beyond simple redistribution, which involves rethinking the relationship between capital and labor and addressing the structural issues that contribute to inequality.

One of the key arguments put forth by Askenazy is that the current distribution of wealth is not sustainable and is leading to increasing social unrest and economic instability. He argues that the growing gap between the rich and the poor is not only unfair but also threatens the long-term health of our economies. To address this issue, Askenazy proposes a range of policies and initiatives, including increasing the minimum wage, implementing progressive taxation, and investing in education and training programs to help workers develop the skills they need to succeed in the job market.

In addition to these policy recommendations, Askenazy also calls for a shift in societal attitudes towards work and its value. He argues that work should be recognized as a source of dignity and fulfillment, rather than just a means to an end. This can involve promoting work-life balance, providing job security, and creating a culture that values and respects the contributions of all workers.

Another important aspect of reducing inequalities and improving the recognition and pay of work is addressing the gender pay gap. Women are often paid less than men for doing the same job, and this gap contributes to significant economic inequality. Askenazy argues that this gap is not only unfair but also hinders the progress of women in the workplace and the broader economy. To address this issue, he suggests policies and initiatives that promote gender equality, such as equal pay laws, flexible work arrangements, and training programs that help women develop their skills and advance in their careers.

In conclusion, reducing inequalities and improving the recognition and pay of work is a complex issue that requires a multifaceted approach. By advocating for a new description of the capital-work relationship, calling for a remobilization of the world of work, and proposing policies and initiatives that address the structural issues contributing to inequality, Askenazy offers a more radical alternative to neoliberalism. It is essential that we take action to address these issues and create a more equitable and sustainable economy for all.

Weight: 202g
Dimension: 210 x 140 x 15 (mm)
ISBN-13: 9781788739375