Inequality
“Avoiding Plutocracy Would Require a Political Change”: Branko Milanovic on the Future of Capitalism
In an interview with ProMarket, CUNY Graduate Center economist Branko Milanovic discussed the differences and similarities between US-style and China-style capitalism and explained why,...
How a Simple Tweak to a Federal Form Could Help Borrowers Potentially Avoid Defaulting on Student Loans
A federal program seeks to help borrowers avoid defaulting on their student loans through income-based repayment plans, but many eligible borrowers do not enroll....
With the US and China, Two Types of Capitalism Are Competing With Each Other
Capitalism’s global victory has been achieved through two different types of capitalist systems: the liberal meritocratic capitalism that has developed incrementally in the West,...
The Secret Code of Capital and the Origin of Wealth Inequality
Capital is not a thing, but a social relation enforced by the law and the state. With the right legal coding, any object, claim,...
How Powerful Ideas Can Shape Society: Aaron Director and the Triumph of Nihilism
The rise of giants like Amazon and Facebook proves the long-lasting influence of Director's approach. His intellectual and political legacy is the transition of...
The Cost of America’s Oligopoly Problem
An innovative new study finds substantial, increasing deadweight losses resulting from oligopolistic behavior and points to the important role that startup acquisitions—particularly by large...
The Business Roundtable CEOs’ Statement: Same Old, Same Old
Despite the media hype about corporate CEOs having abandoned their shareholder value maximization credo, the recent statement from the Business Roundtable contains nothing new...
Thomas Piketty's New Book Brings Political Economy Back to Its Sources
In the same way that Capital in the Twenty-First Century transformed the way economists look at inequality, Piketty's new book Capital and Ideology will...
The Employment Effects of a Gender-Specific Minimum Wage
The first minimum-wage laws in the history of the United States were predominantly gender-specific in that they were imposing a lower bound only on...
The Future of Capitalism and the Utopia That Never Was
In his review of Paul Collier’s recent book The Future of Capitalism, Branko Milanovic discusses ideology, social democracy, and the "ethical world."
Paul Collier’s...
