Inequality and Instability: A Study of the World Economy Just Before the Great Crisis by James K. Galbraith
Published By: Oxford and New York: Oxford University Press ISBN: 978-0-19-985565-0 Date of Publication: 2012
Book Review Detail
Branko Milanovic of World Bank
Review DOI: 10.1257/jel.51.1.190.r4 Review Pages: 195-97
Book Review Abstract
Branko Milanovic of World Bank reviews, "Inequality and Instability: A Study of the World Economy Just Before the Great Crisis" by James K. Galbraith. The Econlit abstract of this book begins: "Explores the relationship between the rise of inequality and the performance of the U.S. stock market and the rise of finance and of free-market policies elsewhere. Discusses the physics and ethics of inequality; the need for new inequality measures; pay inequality and world development; estimating the inequality of household incomes; economic inequality and political regimes; the geography of inequality in America, 1969–2007; state-level income inequality and American elections; inequality and unemployment in Europe—a question of levels; European wages and the flexibility thesis; globalization and inequality in China; finance and power in Argentina and Brazil; inequality in Cuba after the Soviet collapse; and economic inequality and the world crisis. Galbraith is Professor in the Lyndon B. Johnson School of Public Affairs and Lloyd M. Bentsen Jr. Chair in Government/Business Relations at the University of Texas, Austin. Index."
D31: Personal Income, Wealth, and Their Distributions D63: Equity, Justice, Inequality, and Other Normative Criteria and Measurement D72: Models of Political Processes: Rent-seeking, Elections, Legislatures, and Voting Behavior G01: Financial Crises J31: Wage Level and Structure; Wage Differentials O15: Economic Development: Human Resources; Human Development; Income Distribution; Migration P36: Socialist Institutions and Their Transitions: Consumer Economics; Health, Education and Training, Welfare, and Poverty