Condoleezza Rice: The authorised biography

by Marcus Mabry

Many people would agree that a society in which a chief executive officer earns not five or 10 but 100 times as much as the average full-time worker is not a fair society. The Cost of Inequality argues that this kind of inequality also has an impact on economic growth. The deregulation of the financial sector has had knock-on consequences for our economy. Why invest in an industry with steady but slow- growing returns when there is a quick buck to make in finance? While in the post-war period the gains from productivity growth were equally shared between wages and profits, from the early 1980s almost all the gains were captured as profits. The result? On the one hand, huge flows of cash into the pockets of the rich; and on the other hand there is a reduced incentive to invest in production because of the lack of a market from wage-earners.

Genres: Nonfiction, Politics, Economics

340 pages, Paperback

First published October 27, 2011

Reviews

[Athene · Rating 5 out of 5]

A really good an accessible book on the pitfalls of a de-regulated financial system, going in to detail about the disastrous effects it's had on the economy including specific examples, for example the account of the private takeover of Debenhams will really make your blood boil.

It's astonishing that some people still believe that de-regulation is the only way forward, and that the markets are naturally self-regulating. It's alarming that these people seem to make up our government.

[Daniel · Rating 5 out of 5]

An excellent book on the problems facing the economy today and the rising inequality. Written simple enough for me, with a very little understanding of economics, to grasp.

[Nicole Robinson · Rating 4 out of 5]

Several typos. Did anyone proof read this book? That said, it's a good read even 10 years after the recession.

[James Elder · Rating 3 out of 5]

I have mixed feelings on this. Lansley makes a reasonably compelling argument and it contains more detail on both private equity and hedge funds than I've read elsewhere.

However, I wanted to see the overall assertion (that growing wealth inequality is actually damaging to the economy, quite apart from the social and moral arguments) nailed down with academic rigour, and this book doesn't do that.

It's too much of a polemic for my taste, and not enough of an analysis. That said, if we assume that Lansley has been fair in how he uses quotations, then some of the strongest arguments come from the industry, finance, economics and government luminaries that are referenced. When we have these people saying the system is broken, then I think we have to listen.

[Michael Pantlin · Rating 5 out of 5]

I must-read book for anyone concerned about where the economy is going and the well-being of the general population.

[Kazimiera pendrey · Rating 2 out of 5]

this book was very intersting but the drawback for me was that all the graphs and diagrams were too small for me to read

[Francis Riley · Rating 4 out of 5]

Refreshing, timely and a "must read" that probably won't be; more"s the pity!!

[Matthew Newton · Rating 4 out of 5]

Generally interesting and compelling. Some minor typographical errors. Referencing could have been slightly better.