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.”
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