Visions of Inequality: From the French Revolution to the End of the Cold War

A Financial Times Best Book of the Year, "Visions of Inequality" is a sweeping and original history of how economists across two centuries have thought about inequality, told through portraits of six key figures. It charts the evolution of thinking about inequality, showing how much views have varied among ages and societies.

Format: Hardback
Length: 368 pages
Publication date: 10 October 2023
Publisher: Harvard University Press

A captivating and groundbreaking exploration of the evolution of economic thought on inequality spans two centuries, as revealed through the captivating portraits of six influential economists. In his insightful inquiry, Branko Milanovic poses a thought-provoking question to these esteemed scholars: "How do you perceive income distribution in your time, and how and why do you anticipate it to evolve?"

Through a meticulous examination of their works in the context of their lives, Milanovic skillfully charts the intricate evolution of ideas about inequality, unveiling the vast disparities in viewpoints across different ages and societies. He argues that the concept of "inequality" cannot be treated as a universal phenomenon, as any analysis of it is intricately linked to a specific time and place.

Visions of Inequality takes readers on a captivating journey, beginning with the physiocrats, who viewed social classes as dictated by law. It then traverses the classic nineteenth-century treatises of Smith, Ricardo, and Marx, who perceived class solely as an economic category shaped by the means of production. Pareto reimagined class as a dichotomy between elites and the rest of the population, while Kuznets attributed inequality to the urban-rural divide.

Milanovic's meticulous analysis uncovers the intricate nuances of each author's perspective on income distribution, meticulously extracting their views from their extensive writings. This invaluable genealogy of the discourse surrounding inequality provides a deep understanding of economic theory, complemented by a psychological depth that reconstructs each thinker's outlook based on the knowledge available to them within their historical context.

In addition to offering a comprehensive historical analysis, Visions of Inequality sheds light on the contemporary relevance of inequality studies. It explores the resurgence of interest in this field, driven by the pressing need to address the social and economic challenges posed by growing income inequality. Milanovic's book serves as a valuable resource for scholars, policymakers, and individuals seeking to comprehend the complex dynamics of income distribution and its impact on society.

Through his captivating portraits and insightful analysis, Branko Milanovic has crafted a masterpiece that delves into the depths of economic thought on inequality, offering a profound understanding of the past and a roadmap for a more equitable future. This book is a testament to the power of intellectual inquiry and the enduring significance of addressing the challenges of inequality in our world.

Weight: 628g
Dimension: 164 x 242 x 34 (mm)
ISBN-13: 9780674264144