Packed with charts and graphs and not for the numerically faint of heart. For those versed in economics, however, Milanovic...
The rich get richer, and the world gets poorer.
Inequality is a constant of history. But, writes economist Milanovic (Luxembourg Income Study Center; The Haves and the Have-Nots: A Brief and Idiosyncratic History of Global Inequality, 2010, etc.), only recently have we been able to work with meaningful numbers about it. His terminus is 1988, “a convenient starting place because it coincides almost exactly with the fall of the Berlin Wall and reintegration of the then-communist economies into the world economic system.” Armed with strong data, the author charts how inequality of income and wealth, among other axes, though a global phenomenon, also has local results: in the face of globalization, workers in China may want to unionize, for instance, while workers in the United States might demand protective tariffs. Building on but not entirely endorsing the work of Thomas Piketty, Milanovic looks closely at some specific consequences of this push and pull across the globe: unskilled workers may be drawn to the U.S. because of the tightening of possibilities of intergenerational mobility, while more skilled ones might instead opt for the Northern European nations, where that opportunity is greater. If that premise is guaranteed to irritate America-firsters, so are some of Milanovic’s other findings, presented with the arid calmness of his profession. As inequality rises, the middle class disappears; as it does, political power concentrates in the hands of the rich, who may opt to send their children to private schools and refuse to fund public ones, with the “countervailing power of the middle class…no longer sufficiently strong to oblige them to finance public health and education and participate in it.” Milanovic is cautious about forecasting either economic or political consequences, noting in passing how wrong analysts were in the 1970s and ’80s about the world of today and observing, “predicting important discrete events may be a form of charlatanism.”
Packed with charts and graphs and not for the numerically faint of heart. For those versed in economics, however, Milanovic provides an illuminating analysis.Pub Date: April 11, 2016
ISBN: 978-0-674-73713-6
Page Count: 282
Publisher: Belknap/Harvard Univ.
Review Posted Online: Feb. 14, 2016
Kirkus Reviews Issue: March 1, 2016
BOOK REVIEW
BOOK REVIEW
Occasionally wonky but overall a good case for how the dismal science can make the world less—well, dismal.
“Quality of life means more than just consumption”: Two MIT economists urge that a smarter, more politically aware economics be brought to bear on social issues.
It’s no secret, write Banerjee and Duflo (co-authors: Poor Economics: A Radical Rethinking of the Way To Fight Global Poverty, 2011), that “we seem to have fallen on hard times.” Immigration, trade, inequality, and taxation problems present themselves daily, and they seem to be intractable. Economics can be put to use in figuring out these big-issue questions. Data can be adduced, for example, to answer the question of whether immigration tends to suppress wages. The answer: “There is no evidence low-skilled migration to rich countries drives wage and employment down for the natives.” In fact, it opens up opportunities for those natives by freeing them to look for better work. The problem becomes thornier when it comes to the matter of free trade; as the authors observe, “left-behind people live in left-behind places,” which explains why regional poverty descended on Appalachia when so many manufacturing jobs left for China in the age of globalism, leaving behind not just left-behind people but also people ripe for exploitation by nationalist politicians. The authors add, interestingly, that the same thing occurred in parts of Germany, Spain, and Norway that fell victim to the “China shock.” In what they call a “slightly technical aside,” they build a case for addressing trade issues not with trade wars but with consumption taxes: “It makes no sense to ask agricultural workers to lose their jobs just so steelworkers can keep theirs, which is what tariffs accomplish.” Policymakers might want to consider such counsel, especially when it is coupled with the observation that free trade benefits workers in poor countries but punishes workers in rich ones.
Occasionally wonky but overall a good case for how the dismal science can make the world less—well, dismal.Pub Date: Nov. 12, 2019
ISBN: 978-1-61039-950-0
Page Count: 432
Publisher: PublicAffairs
Review Posted Online: Aug. 28, 2019
Kirkus Reviews Issue: Sept. 15, 2019
SEEN & HEARD
A forceful, necessarily provocative call to action for the preservation and protection of American Jewish freedom.
Known for her often contentious perspectives, New York Times opinion writer Weiss battles societal Jewish intolerance through lucid prose and a linear playbook of remedies.
While she was vividly aware of anti-Semitism throughout her life, the reality of the problem hit home when an active shooter stormed a Pittsburgh synagogue where her family regularly met for morning services and where she became a bat mitzvah years earlier. The massacre that ensued there further spurred her outrage and passionate activism. She writes that European Jews face a three-pronged threat in contemporary society, where physical, moral, and political fears of mounting violence are putting their general safety in jeopardy. She believes that Americans live in an era when “the lunatic fringe has gone mainstream” and Jews have been forced to become “a people apart.” With palpable frustration, she adroitly assesses the origins of anti-Semitism and how its prevalence is increasing through more discreet portals such as internet self-radicalization. Furthermore, the erosion of civility and tolerance and the demonization of minorities continue via the “casual racism” of political figures like Donald Trump. Following densely political discourses on Zionism and radical Islam, the author offers a list of bullet-point solutions focused on using behavioral and personal action items—individual accountability, active involvement, building community, loving neighbors, etc.—to help stem the tide of anti-Semitism. Weiss sounds a clarion call to Jewish readers who share her growing angst as well as non-Jewish Americans who wish to arm themselves with the knowledge and intellectual tools to combat marginalization and defuse and disavow trends of dehumanizing behavior. “Call it out,” she writes. “Especially when it’s hard.” At the core of the text is the author’s concern for the health and safety of American citizens, and she encourages anyone “who loves freedom and seeks to protect it” to join with her in vigorous activism.
A forceful, necessarily provocative call to action for the preservation and protection of American Jewish freedom.Pub Date: Sept. 10, 2019
ISBN: 978-0-593-13605-8
Page Count: 224
Publisher: Crown
Review Posted Online: Aug. 22, 2019
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