Visions of Inequality

A timely book that brings the weight of the past to bear on one of the most pressing issues of our time…Milanovic is a clear and direct writer, unafraid of making strong judgements and with an idiosyncratic eye for detail. That makes for original, and sometimes amusingly wry, revelations. -- Darrin M. McMahon * Literary Review * Inequality is back, as a political topic and as a focus of study. In this fascinating book, Milanovic, one of the world’s most influential scholars of inequality, examines what leading economists of the past have had to say on this issue. -- Martin Wolf * Financial Times * A history of the changing ways economists have broached the subject [of inequality] since the French Revolution…[Milanovic] describes how Western economists were in thrall to an unholy combination of extremely simplistic assumptions and extremely complex mathematical models. -- Jennifer Szalai * New York Times * For anybody interested in inequality—and we all should be—anything by Milanovic is an essential read…This book is a great scene setter for the modern debate, not least in illustrating the link between ideas of inequality and the times in which ideas are formed. -- Diane Coyle * Enlightened Economist * An in-depth contextual analysis of how economic minds from Adam Smith to Karl Marx have shaped our understanding of class, income and wealth…This is a vital reference for the economic and philosophical theories underpinning our understanding of inequality today. -- Tej Parikh * Financial Times * An absorbing account of how thinking about inequality has evolved…Milanovic mixes his methodical examination of the evolution of economic thought about inequality with fascinating portraits of great economists and the society and polity of their times. -- Zia Qureshi * Finance & Development * A captivating journey through the time of ideas, with an impact on current events. -- Julien Damon * Les Echoes * A noted economist examines the thinking of six of his predecessors on how income is distributed and the conditions that favor or hinder the accumulation of wealth. * Kirkus Reviews * [A] sweeping survey of more than 200 years of philosophical thought about inequality. * Publishers Weekly * Fascinating and often surprising, offering new insight into iconic figures like Smith and Marx and unexpected perspectives on their work. Branko Milanovic shows that the writings of centuries past have much to teach us about inequality, especially about class and power. A truly important book. -- Angus Deaton, Nobel Laureate in Economic Sciences What do we talk about when we talk about economic inequality? To those who came of age after the 2008 financial crisis and Thomas Piketty’s Capital in the Twenty-First Century—an era marked by a widening fracture between rich and poor, especially within Western nations—the question might seem obvious. But as Branko Milanovic shows in his indispensable chronicle of the concept, we underestimate just how young, limited, and fraught our current understanding of inequality is—and how diverse its range of forebears. Researched with forensic thoroughness, and hardly shy about its political implications, Visions of Inequality presents a rare and rewarding combination of economic and conceptual history. -- Anton Jäger, Catholic University of Leuven A fascinating journey across the history of economic thought through the lens of inequality. Milanovic’s erudite and thought-provoking exploration casts new light both on the analysis of income concentration and on the ideological travails of economics as a discipline. -- Ingrid Bleynat, King's College London Imagine being able to ask Smith, Marx, and Pareto round for dinner and a chat about how each of them sees inequality. In effect, that’s what Branko Milanovic does in this new book. As he shows, economists’ interest in the subject is by no means a new phenomenon—but what counts, and who counts, in any analysis of inequality has varied dramatically over time. Recognizing this fact should make us reflect on how our own contemporary assays of inequality are more limited than we think. Taking us on an eye-opening tour from Quesnay to Kuznets, Milanovic shows us how inequality and capitalism have always intertwined. -- Mark Blyth, Brown University