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Global Inequality: A New Approach for the Age of Globalization

4.08  ·  Rating details ·  439 ratings  ·  54 reviews
One of the world s leading economists of inequality, Branko Milanovic presents a bold new account of the dynamics that drive inequality on a global scale. Drawing on vast data sets and cutting-edge research, he explains the benign and malign forces that make inequality rise and fall within and among nations. He also reveals who has been helped the most by globalization, wh ...more
Hardcover, 320 pages
Published April 11th 2016 by Belknap Press
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4.08  · 
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 ·  439 ratings  ·  54 reviews


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Hadrian
There have been a surfeit of books on the economics of inequality over the past few years. What makes this one stand out is its emphasis on global inequality and how it compares to national inequality.

As expected, income inequality is increasing within countries. There is some good news, he finds. Inequality is decline on a global scale, with populations in the middle income percentiles doing better than before - this means China, Indonesia, India, etc. The top 10% have done well, with the glob
...more
Bryan Alexander
Mar 07, 2018 rated it really liked it
This is a major work in current events, forecasting, and economics. It offers powerful ideas for understanding the present, recent history, and the medium term future. I fear people won't read it.

That's because Global Inequality: A New Approach for the Age of Globalization attempts a tricky thing. First, it looks hard at economic inequality, which is a subject that already appalls most people, or just skates over their heads. Second, it places the subject on an international level. This means th
...more
Wilte
Jan 07, 2017 rated it really liked it
Shelves: ub
Nice economics book with and on the famous elephant graph showing global income growth 1988-2008:


The great winners have been the Asian poor and middle classes; the great losers the lower middle class of the rich world" (p20) (...)
They [globally very rich] too are the winners of globalization, we call them the "global plutocrats". (p22) (...)
44 percent of the absolute gain has gone into the hands of the richest 5 percent of people globally, with almost one-fifth on the total increment received b
...more
Daniel
Oct 13, 2017 rated it it was amazing
Milanovic is the expert on global inequality. In this book he explains the effects of globalisation on global inequality. As most people know, the answer lies in the Elephant curve. So the poor people and middle class of the developing world has seen their wages went up, together with the global 1%. Unfortunately, the middle class in the rich world has seen not much growth at all. In absolute terms, however, the gains in the middle were very small compared to the outsized gain of the 1%! Despite ...more
Jason Furman
Mar 30, 2016 rated it really liked it
Shelves: nonfiction, economics
An erudite and wide ranging summary of the past, present and future of inequality--including inequality across all people in the world and over long periods of time within countries and between countries.
Türkay
Oct 30, 2018 rated it it was amazing
Milanovic'in beş bölümden oluşan kitabı, seksenlerde başlayan neoliberal politikalar ve küreselleşme sonucu oluşan gelir eşitsizliği değişimini ele alıyor.
Satın alma gücüne çevrilmiş olan gelir verileri (1980-2008) kullanılarak yapılan ayrıntılı analizlerin sonuçlarının ele alındığı kitapta, oldukça ilginç sonuçlar vurgulanmakta.
Küreselleşmenin - ve küresel ekonomideki büyümenin- sonuçlarınından hangi gelir kesimlerinin yararlandığı (Fil eğrisi), geliri azalan kesimlerin gelir dağılımındaki şaş
...more
John Hively
Mar 17, 2018 rated it did not like it
This is an interesting book in which the author makes some good points. However, some of the stuff he writes is completely retarded. He doesn't understand a lot of what is going on. He assumes, for example, if you allow immigrants to flood the job markets of rich countries this will help to end income and wealth inequality because these new migrants will bring their wages up in doing so. That, no doubt, is true.

However, what Milanovic doesn't understand is that this will make stagnate or drive
...more
Laurent Franckx
Dec 01, 2018 rated it really liked it
A few years ago, Thomas Piketty brought the study of economic inequality back to the limelight with his acclaimed "Capital in the 21th century".
While Piketty's book looked only at inequality at the national level, Branko Milanović goes one step further. Building on detailed data at the household level collected over the last decades, Milanović studies global inequality between individuals (as opposed to global inequality between nations). This book is a non-technical summary of his key findings
...more
Nathik
Dec 26, 2018 rated it really liked it
It was interesting to read a book on Globalization or should I say Global inequality in post-brexit, trump world. Globalization is the invisible force which affects our income, employment prospect, knowledge and our cost of living. The gain of globalization will be unevenly distributed.

Global inequality = Sum of all national inequalities + Sum of all gap in mean incomes among countries

According Branko Milanovic, we will continue to the below trends due to globalization.

1. Rise of the "global
...more
Venky
May 29, 2016 rated it really liked it
Shelves: bibliocase
While Globalization has had the benevolent impact of bestowing much needed economic, political and social advantages to the underprivileged class, it brings with it its own set of discontents. The most visible scourge of globalisation has been the increasing in-congruence of both wealth and income - a phenomenon that has birthed the undesirable consequence of inequality. One of the pioneers in this domain of Economics has been Branko Milanovic.

In this essential book, Milanovic employs the powerf
...more
David
Branko Milanovic’s Global Inequality is an intense examination, though a relatively short book, of economic and political inequality in the developed world (the OECD) but focuses mostly on the West and not very closely on Asia…which is one of the weaknesses of this otherwise compelling read.

The upshot of the book is that economic and political inequality will continue and in the wake of this political instability may well rise as well. Milanovic, however, does not seem to take the next step with
...more
Diego
Apr 16, 2016 rated it it was amazing
Global Inequality: A New Approach for the Age of Globalization es una lectura sumamente entretenida y enriquecedora que presenta la problemática de la desigualdad desde una perspectiva distinta. Introduce el concepto de los ciclos u olas de Kuznets con el cual el autor intenta modificar la teoría de la curva de Kuznets para explicar los cambios recientes en la desigualdad dentro de los países.

También elabora sobre las diferencias entre la desigualdad entre países y la desigualdad dentro de los
...more
Chris
In Global Inequality: A New Approach for the Age of Globalization, Branko Milanovic tackles the increasingly salient issue of economic inequality at a global scale, examining the factors which contribute to its growth and decline. Many in the field of development have attempted to characterize this process. Some, like Simon Kuznets, hypothesized that as a nation industrializes, income inequality first increases then decreases, resulting in projections (dubbed Kuznets curves) for ultimately unrea ...more
Marko Boskovic
Globalna nejednakost (dohodovna nejednakost građana sveta) je zbir svih unutrašnjih nejednakosti kojoj se dodaje zbir svih razlika u prosečnim dohocima između različitih zemalja. Promene u globalnoj nejednakosti mogu biti odraz ekonomskog (i često političkog) uspona, stagnacije i propadanja zemalja, mogu biti posledica promene nivoa najedanakosti unutar pojedinih država ili procesa tranzicije iz jednog društvenog ili političkog sistema u drugi.

Tri važne promene koje su najviše uticale na kretanj
...more
Andreas
Jun 06, 2016 rated it it was amazing
Shelves: economics-etc
Probably the best book I'll read this year. Milanovic provides plenty of data, presents plausible hypotheses regarding the evolution of national equality and the current rise of populism, and asks provoking philosophical questions, in particular about migration and the citizen premium. It has made me question some of my own core beliefs, which only the best books do. Highly recommended.
Don
Feb 25, 2019 rated it really liked it  ·  review of another edition
Globalisation has never been anything other than the most complex and contradictory of phenomena, producing outcomes that evade being characterised in simple binary terms as 'good' or 'bad'. As far as it has impacted on equality across the planet the following have to be taken into account:
(1) For those groups between the 40th and 60th percentiles of global income distribution - around one-fifth of the world's population - it has produced dramatic gains in wealth.
(2) Contrariwise, those on or ar
...more
Antti Kauppinen
Dec 31, 2017 rated it it was amazing
I worried that a book on global inequality of income and wealth would be boring, but I was wrong: Milanovic offers new insights and sound analysis. Here's a few notable observations. Global inequality has gone down recently, but only because the Asian middle class is doing well and Western middle class is hurting. (Indeed, it may soon happen that the rise of China will contribute to increasing global inequality, as it becomes one of the rich countries.) Within countries, limits of inequality are ...more
Salvador Medina
Jun 25, 2018 rated it it was amazing  ·  review of another edition
Shelves: desigualdad
Este libro de Branko Milanovic explica la desigualdad relacionada a nivel mundial y su relación con la globalización en 5 capítulos. En el primero, explica la evolución de la desigualdad mundial resaltando dos fenómenos: el crecimiento de la clase media (principalmente en China) y de los multimillonarios (el 1% más rico).

En el segundo capítulo, hace un replanteamiento de la hipótesis de los ciclos de Kuznets, para plantear que en realidad tiene una forma de S acostada: sube la desigualdad, dism
...more
Lucas
This is a short book which deals with a huge theme. I took a long time to take it because I thought that book will be some kind of data compendium of world inequality. Far from it. Besides the data, the book presents a lot of good reflections on inequality. Milanovic proposes a new way to see the tendencies, after rejecting both Kuznets' and Piketty's approaches he claims that inequality doesn't decrease only as result of war and catastrophe (Piketty) or that the world has a deterministic tenden ...more
Tanya
There are only 239 pages of text in this book, but it took me a week of intense reading to get through it. This is dense economic theory, but I had heard about how insightful this book is, and was determined to understand it. It was worth the effort!

The earlier chapters are more abstract, talking about Kuznet waves and citing lots of different economic theories. But chapter 4, "Global Inequality in This Century and the Next," is straight applied econ and literally changed my paradigm about how
...more
Mbogo J
Aug 23, 2017 rated it really liked it
The topic of inequality is vogue again. The name Piketty is common and a lot of people at least know that r>g is not a good thing. While a lesser number of people know who Milanovic is, his ideas on inequality are something else.

In this book Milanovic somehow managed not to rile his audience into a frenzy that makes the storming of Bastille the next course of action and also he had actually good ideas rather the extremist kind that call for war and asset repossession as solutions to inequalit
...more
Adam
Yes, wow. A stretch of the brain like a foot-heel stretches a fresh tube sock. Got in a lil' o'er the head with this one and it feels good, man. Text provides a viewpoint for how the world got to where it is economically this day. Should this book have been approached as if this mind were a better student of economics greater utility would have been derived.

Lots of little policy bits, nuance, things never heard of, and so on. Big takeaway being as global inequality ebbs, in-country inequality fl
...more
Ahmed Al-Majid
Jan 05, 2019 rated it liked it
A total mind warping read and definitely not because of any radical breakthroughs. The intellectual disjoint is due to the contents, the logic, the arguments used to support the thesis.
A whopping inaccuracy smacking of historical myopia (inequality grew after the European Enlightenment because the rest of the world could not produce as much), several contentious points and a grossly inaccurate view of economic history (capitalism undergoes cycles of Kuznets' inverted U inequality-growth relation
...more
KimNica
Apr 20, 2019 rated it liked it
3,5 stars

This is an accessible account of the causes and consequences of global inequality. Where it gets weaker is when Milanovic outlines his preferred solutions to the problem. While some of the policies he proposes are certainly interesting and innovative, all of them seem to be based on the shoring-up of the nation state and the market system. In other words, he seems to recognize that there is a problem with current capitalism but he is not willing to question the capitalist system as such
...more
Marco Gomez
Jun 27, 2018 rated it it was amazing  ·  review of another edition
"El aumento del interés en la desigualdad también ha impulsado un cambio ideológico importante en el que no sólo vemos las similitudes entre los pueblos, sino también las diferencias. Ya no tratamos de cubrir las diferencias entre agentes económicos, compañías o individuos mediante el proceso de hacer promedios (...); más bien, hacemos justamente lo opuesto: tratamos de descubrir las diferencias. Una vez que comenzamos a ver el mundo de esta manera no podemos volver a la antigua forma de verlo " ...more
Jonathan Kadmon
Sep 03, 2018 rated it it was amazing
Outstanding. Distills a lot of general rules about inequality, its causes, and its deleterious economic effects and shows how they apply in different countries as well as various attempts to address them. In the process he provides a great deal of perspective on US inequality and some profound insights. All in a highly readable and well organized package, a truly rare talent for an economist. Highly recommend.
Pechague
Jan 02, 2019 rated it it was amazing
This book provides a key framework to try to understand the different dynamics at play in today's world. Sometimes the issue of inequality is very poorly addressed. I think this book lays down the groundwork for an informed discussion about the multiple ways to analyse the issue.
Danny Marrone
Jul 29, 2017 rated it it was amazing
By far the most readable and interesting book on economic globalization ive ever read
Robert
Aug 24, 2017 rated it really liked it
A thorough overview over the topic at hand, an intriguing new concept in kuznet waves, and no unnecessary "it's gonna be alright!"/"progress is inevitable!" optimism.
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