'Visions of Inequality: From the French Revolution to the End of the Cold War' by Branko Milanovic
- From Xhulia Likaj
- Reading duration 2 min
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'Visions of Inequality: From the French Revolution to the End of the Cold War' is a sweeping and original history that explores how economists across two centuries have thought about inequality. Milanovic delves into the works of six pivotal economists - François Quesnay, Adam Smith, David Ricardo, Karl Marx, Vilfredo Pareto, and Simon Kuznets - illuminating their ideas within the context of their personal and professional lives.
Milanovic traces the progression of thought on inequality, underscoring the significant variations across different eras and societies. He contends that discussions of "inequality" cannot be generalized; instead, they are deeply rooted in the specific historical and social contexts of their times. François Quesnay, Adam Smith, and David Ricardo laid the groundwork for early discussions on inequality, each bringing unique insights from their respective periods. Karl Marx introduced the concept of class struggle, redefining inequality in terms of the conflicts between different social classes. Vilfredo Pareto shifted the focus to the dichotomy between elites and the general population, offering a new perspective on class dynamics. Simon Kuznets identified inequality as stemming from the divide between urban and rural areas, highlighting the socioeconomic transformations during industrialization.
During the Cold War, the study of inequality became overshadowed but has since regained prominence as a central theme in economic discourse. "Visions of Inequality" provides a rich historical context, revealing how the perspectives of influential economists have shaped and reshaped our understanding of inequality over the centuries.