The Inequality of Wealth: Why it Matters and How to Fix it

The super-rich have never had it so good, but millions of us cannot afford a home, education, or pension. Liam Byrne's new book argues that wealth inequality has grown fast in recent years and threatens our society, economy, and politics. He offers five practical ways to rebuild an old ideal: the wealth-owning democracy, based on conversations and debates with former prime ministers, presidents, and policymakers, and experts at the OECD, World Bank, and IMF. The future may not be a land of milk and honey, but it could be a place where we live longer, happier, healthier, and wealthier lives.

Format: Hardback
Length: 320 pages
Publication date: 11 January 2024
Publisher: Bloomsbury Publishing PLC

The super-rich have never enjoyed such prosperity, while millions of us struggle to afford basic necessities such as a home, education, and pension. Unless we take immediate action, the future looks bleak, with wealth inequality only worsening. However, it is not inevitable that things will remain this way. In his groundbreaking book, former Treasury Minister Liam Byrne delves into the causes of rapid wealth inequality and its detrimental impact on society, economy, and politics. He challenges the conventional economic theories that have led to this crisis and offers practical solutions to rebuild the old ideal of a wealth-owning democracy.

Byrne draws on conversations and debates with former prime ministers, presidents, and policymakers from around the world, as well as experts from organizations such as the OECD, World Bank, and IMF. He argues that after two decades of statistics and slogans, it is time for solutions that are not only radical but also plausible and achievable. The future may not be a utopia, but it can be a place where we live longer, happier, healthier, and wealthier lives.

One of the key themes in Byrne's book is the need for a more progressive tax system. He advocates for a higher tax rate on the super-rich, as well as a reduction in tax breaks and loopholes for corporations. This would help to reduce income inequality and fund social programs that benefit all members of society.

Another important aspect of Byrne's book is the importance of education and job training. He argues that a lack of education and skills is one of the main drivers of income inequality and that investing in education and training programs can help to create a more equitable society. Byrne also suggests that governments should prioritize job creation and support small businesses, which are often the backbone of local economies.

In addition to these practical solutions, Byrne's book also offers a broader critique of the economic system that has led to wealth inequality. He argues that the focus on short-term profits and shareholder value has led to a race to the bottom, where companies prioritize profits over the well-being of their employees and the environment. Byrne calls for a shift towards a more sustainable and equitable economic model that values social and environmental responsibility as well as economic growth.

Overall, Liam Byrne's book is a powerful and thought-provoking exploration of the growing wealth inequality crisis. It offers practical solutions to address this issue and a vision for a more equitable and sustainable future. By challenging the conventional economic theories that have contributed to this crisis, Byrne provides a roadmap for rebuilding a wealth-owning democracy that benefits all members of society.

Weight: 528g
Dimension: 162 x 242 x 32 (mm)
ISBN-13: 9781804543382