Global Inequality and More

Global Inequality and More explores economic theories, global inequality, and the impact of historical and political ideologies on contemporary economics. It discusses the roles of notable figures like Marx, the implications of capitalism, and the nuances of inequality studies, often through the lens of historical critique and societal impacts.

Economic Theories Global Inequality Historical Ideologies Capitalism Political Economy Societal Impacts

The hottest Substack posts of Global Inequality and More

And their main takeaways

Non-exemplary lives

314 implied HN points • 03 May 21
  1. Some great social scientists lead unexciting lives, moving from one academic role to another.
  2. Living an orderly and boring life can limit one's understanding of human nature and choices.
  3. Examples of extraordinary experiences and challenges might enrich the insights of social scientists.

The influence of Karl Marx—a counterfactual

235 implied HN points • 05 May 21
  1. Engels played a crucial role in popularizing Marx's work after his death.
  2. The October Revolution and the rise of socialism globally significantly expanded Marx's influence.
  3. Marx's relevance persists today due to the reflection of his critiques in globalized capitalism and financial crises.

The age of open financial imperialism

157 implied HN points • 04 May 21
  1. Nate Silver suggests global governance should follow a 1 GDP = 1 vote rule.
  2. Some suggest that with a money-based voting metric, small countries could lose importance in global decisions.
  3. Proposals to base global governance on wealth may lead to the disenfranchisement of certain demographics.

Milton Friedman and labor-managed enterprises

117 implied HN points • 03 May 21
  1. Milton Friedman identified three major flaws of worker-managed companies in the economy.
  2. One flaw was that worker-managed enterprises tend to have less motivation to hire more workers than entrepreneur-run companies.
  3. Another flaw was that worker-managed enterprises could have vastly different wages and productivity levels, leading to potential inequities among workers.
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Machiavelli as an economist

117 implied HN points • 01 May 21
  1. Machiavelli viewed rulers as rational individuals maximizing power over time, similar to maximizing income or utility in economics.
  2. The constraints on rulers involve acquiring and maintaining power while facing opposition.
  3. Machiavelli's approach suggests that self-interested rulers who prioritize their own benefit may create a more stable and peaceful world.

How the war was won

98 implied HN points • 30 Apr 21
  1. American foreign policy during the Cold War was not as idealistic as it was portrayed by some. There was often collaboration with questionable allies.
  2. US Cold War strategies in the Third World focused on influencing national armies, spreading propaganda, and manipulating economic support.
  3. Leaders overthrown during the Cold War in countries like Guatemala, Brazil, and Chile were not necessarily communist, showing ideological complexity.

The problems of authenticity under capitalism

98 implied HN points • 30 Apr 21
  1. Capitalism aligns with profit in reproducible goods but not in arts.
  2. Authenticity in arts clashes with commercialization under capitalism.
  3. In a capitalistic system, artists may sacrifice authenticity to cater to public preferences and maximize income.

“The Byzantine Republic” and the Chinese Empire: Some similarities?

98 implied HN points • 28 Apr 21
  1. The book discusses similarities and differences between the Byzantine Republic and the Chinese Empire.
  2. It examines the social structures and governance of both empires, looking at elements like popular rule and continuity of leadership.
  3. Comparison reveals parallels in the social hierarchy and bureaucratic systems of Byzantium and China.

What we owe to Donald J Trump

98 implied HN points • 03 Jan 21
  1. Donald Trump advocated for the 'America First' foreign policy, which emphasizes equal treatment of all countries.
  2. Trump's presidency exposed the corruption and unethical practices in both politics and business.
  3. Through Trump's behavior, we learned about the pervasive corruption in powerful businesses and politics.

Darkness that illuminated the world

78 implied HN points • 01 May 21
  1. The book 'Out of Italy' discusses how Italian culture influenced Europe from 1450 to 1650.
  2. Braudel suggests that Italy's economic decline was due to 'decadence' and losing to Northern Europeans in trade and industry.
  3. The author questions the impact of financialization on Italy's economy and draws parallels to modern financialized economies.

Marriage and society in the ante-bellum Japan

78 implied HN points • 03 Jan 21
  1. The book explored the modernization of Japan in the late 1930s.
  2. Marriages were arranged based on factors like social status and preferences, with little emphasis on romantic love.
  3. The story depicted a relatively close social distance between well-off families and their maids.

Is citizenship just a rent?

58 implied HN points • 11 May 21
  1. Citizenship in modern times has economic value: a 'citizenship rent' for rich countries' citizens and a 'citizenship penalty' for citizens of poor countries.
  2. Political participation and groundedness are weakening pillars of citizenship, reducing it to a mere financial benefit.
  3. Countries selling citizenship highlight the transformation of citizenship into a 'fictitious commodity' that is more about rights and advantages than physical presence or interest.

The last colonial war?

58 implied HN points • 07 May 21
  1. Ian Kershaw's biography of Hitler is considered a definitive account of his life in the 21st century.
  2. Hitler's political aims of eliminating Jews from Europe and conquering the East were central to his actions during World War II.
  3. The Eastern front of World War II was distinct from the Western front, serving as a colonial war of extermination and enslavement.

"The World Turned Upside Down"—a critical review

58 implied HN points • 26 Apr 21
  1. The Cultural Revolution was a chaotic time with individuals having agency, unlike in a totalitarian regime.
  2. Mao ruled more like a God than an autocrat, delegating responsibilities and often being unaware of events.
  3. The reasons behind Mao starting the Cultural Revolution remain unclear, leaving room for speculation and interpretation.

Colonialism applied to Europe

39 implied HN points • 07 May 21
  1. Mark Mazower's book 'Hitler's Empire' discusses Nazi rule in Europe during 1936-45.
  2. The Second World War is portrayed as a part of a longer European imperial history with themes of extermination and colonization.
  3. Nazi policies can be seen as an extreme form of European colonialism with rigid racial hierarchy and drive towards annihilation.

The Excellent Empire or the Prison of the Peoples?

39 implied HN points • 30 Apr 21
  1. The book provides a new perspective on the Habsburg Empire's history, focusing on its institutional arrangements and national conflicts.
  2. The author argues that economic development and nationalist agitation played key roles in the Empire's dissolution.
  3. Despite various attempts at different political arrangements, countries that succeeded the Habsburg Monarchy faced similar challenges and ultimately failed, leading to the conclusion that the problem may not have had a fixable solution.

Ban this book!

39 implied HN points • 03 Jan 21
  1. The book 'The Meritocracy Trap' argues that meritocracy is actually a way to maintain a ruling class by concealing birth advantages through education.
  2. Meritocracy creates a deep division between the educated elite and the middle class, widening the gap in income, beliefs, and health outcomes.
  3. Meritocracy relies on investing heavily in children's education from a young age, leading to significant differences in opportunities between the wealthy and the middle class.

The mistake of using the Kantian criterion in ordinary economic life

39 implied HN points • 03 Jan 21
  1. Amartya Sen discusses the role of incentives in work motivation in socialist societies
  2. Sen points out that altruistic behavior, like in the Kantian model, is far from how people behave in ordinary economic life
  3. The expansion of commodification in various aspects of life has shifted focus from altruism to self-interest

Historical wealth

19 implied HN points • 12 May 21
  1. Wealth comparisons across history can be misleading when using the same consumption standards for different time periods.
  2. It's challenging to measure wealth over different eras due to changes in technology and consumption patterns.
  3. Wealth should be measured in the context of the time it exists, with labor power as a consistent benchmark.

The history of global inequality studies

19 implied HN points • 07 May 21
  1. Global inequality studies have evolved over the past seventy years, reflecting changing ideologies and political climates.
  2. The idea of global inequality was initially unpopular, overshadowed by a focus on poverty studies and sidelined by neoliberal ideologies.
  3. The shift towards studying global inequality was hindered by challenges such as lack of data availability and reluctance from certain countries to participate.

Was novel born and died with the bourgeois society?

19 implied HN points • 01 May 21
  1. Literature can teach us about societal inequality through novels.
  2. The focus of novels shifted from societal issues to individual experiences over time.
  3. The decline of the classical novel may be linked to the dissolution of class structures in society.

The influence of the Soviet economic model and the lessons for China

19 implied HN points • 28 Apr 21
  1. The Russian Revolution and Lenin's modified Marxism influenced international politics by combining left-wing policies with anti-imperialism.
  2. Soviet economic influence was limited due to the lack of transparency about pitfalls and problems in applying their model.
  3. China faces challenges in exporting its economic model like the US and Soviet Union due to the uniqueness and complexity of their approach, making it hard to replicate in other countries.

License to kill: “The World Turned Upside Down”—a laudatory review

19 implied HN points • 26 Apr 21
  1. Yang Jisheng's book covers a turbulent period in Chinese history with global resonance.
  2. The Cultural Revolution in China was characterized by decentralized chaos and violence.
  3. The book challenges the official narrative of the Cultural Revolution and sheds light on human nature and the role of government.

Willing meaningful deaths and unwilling meaningless deaths

19 implied HN points • 03 Jan 21
  1. Not all deaths have the same significance; willingness and meaning are vital factors in defining courage.
  2. Deaths from epidemics like COVID-19 lack agency and meaning, making them inherently different from deaths tied to specific beliefs or causes.
  3. High death rates from societal issues like suicide or substance abuse do not signify strength but point to societal weaknesses.

Basic difference between wage inequality and income inequality studies

19 implied HN points • 03 Jan 21
  1. Wage inequality studies focus on income from labor only, ignoring other sources like property and government redistribution.
  2. Household income is what determines social class and inequality, not just individual wage differences.
  3. Understanding the objectives of inequality studies at the intersection of economics, politics, and sociology is crucial to avoid mistakes.

Degrowth: solving the impasse by magical thinking

10 HN points • 28 Apr 21
  1. Degrowers face challenges in reconciling desired outcomes with economic realities.
  2. Using GDP as a measure of welfare is questioned due to its limitations.
  3. Degrowers resort to semi-magical and outright magical thinking to navigate impasses.

On several Marxist themes in “Capitalism, Alone”

0 implied HN points • 03 Jan 21
  1. Communism played a vital role in enabling backward and colonized societies to abolish feudalism and establish indigenous capitalism.
  2. Capitalism can potentially be replaced by another system when capital becomes abundant compared to labor, leading to a shift in societal values.
  3. The dynamic nature of capitalism involves continuous expansion into new profit-generating activities, which may not have clear boundaries due to our cognitive limitations.

Impatience: a deep cause of Western failure in handling the pandemic?

0 implied HN points • 03 Jan 21
  1. Impatience may have been a key factor in the Western failure to handle the pandemic.
  2. Western countries showed a stop-and-go reaction to the pandemic, leading to ineffective measures.
  3. The culture of impatience, driven by quick economic success and consumption, may have hindered the response to the pandemic.

Portrait of the philosopher as a young man

0 implied HN points • 03 Jan 21
  1. Michael Heinrich's biography of Karl Marx is a detailed and ambitious work, covering his early life and intellectual journey.
  2. Heinrich's biography stands out for its thorough research, critical analysis of previous biographies, and focus on Marx's intellectual history.
  3. The biography aims to provide a deep understanding of Marx's thinking by exploring his diverse interests and the intellectual and political context of his time.

Global inequality and other economics

0 implied HN points • 03 Jan 21
  1. The post discusses global inequality and economics.
  2. Branko Milanovic is the economist behind the post.
  3. There is an invitation to subscribe and share the post with friends.

The history of global inequality studies

0 implied HN points • 03 Jan 21
  1. The idea of global inequality has evolved over time, from post-colonialist rhetoric to income inequality among world citizens.
  2. In the 1980s and 1990s, mainstream institutions like the World Bank were not receptive to studying inequality due to ideological shifts.
  3. Obstacles to studying global inequality included politics (countries withholding data), lack of funding, and societal priorities.