Wealth destruction, a universal feature of social revolutions Branko Milanovic, a prominent inequality scholar and former lead economist at the World Bank, recently posted on X: “Every socialist
Tag: capitalism
In memoriam Walt Rostow
Walt Whitman Rostow died 20 years ago. His was a life of turns and twists, incredible career achievements and falls. Coming from the humble background of a Russian Jewish immigrant family, he did h
Alternative Development Models: Have they been given a fair chance in Africa?
(Africa’s Long Road Since Independence by Keith Somerville) The book by Keith Somerville Africa’s Long Road Since Independence has a subtitle “The Many Histories of a Continent”. This subti
Capitalism: Reality or Illusion
Fred Block’s Capitalism: The Future of an Illusion (University of California Press, 2018) has a very clear objective—to challenge market fundamentalism by exposing its fundamental assumptions,
Trio II: The Winter of Our Discontent (Part 2)
The three authors chose three very different entry points and perspectives to argue their case: (liberal) democracy for Mounk, inequality in the age of (liberal) capitalism for Milanovic, and (libe
Trio II: The Winter of Our Discontent (Part 1)
“It’s so much darker when a light goes out than it would have been if it had never shone.” John Steinbeck I owe the title of this review to the eponymous book of John Steinbeck who borrow
Inequality and Capitalism (Alone)
Milanovic’s Global Inequality may be a relatively old news by now. Yet, published in 2016, the book is still relevant as it anticipates many developments that we are observing today, such a