Henry George and the Crisis of Inequality

Henry George and the Crisis of Inequality
Author: Edward O'Donnell
Publisher: Columbia University Press
Total Pages: 377
Release: 2015-06-09
Genre: History
ISBN: 0231539266

America's remarkable explosion of industrial output and national wealth at the end of the nineteenth century was matched by a troubling rise in poverty and worker unrest. As politicians and intellectuals fought over the causes of this crisis, Henry George (1839–1897) published a radical critique of laissez-faire capitalism and its threat to the nation's republican traditions. Progress and Poverty (1879), which became a surprise best-seller, offered a provocative solution for preserving these traditions while preventing the amassing of wealth in the hands of the few: a single tax on land values. George's writings and years of social activism almost won him the mayor's seat in New York City in 1886. Though he lost the election, his ideas proved instrumental to shaping a popular progressivism that remains essential to tackling inequality today. Edward T. O'Donnell's exploration of George's life and times merges labor, ethnic, intellectual, and political history to illuminate the early militant labor movement in New York during the Gilded Age. He locates in George's rise to prominence the beginning of a larger effort by American workers to regain control of the workplace and obtain economic security and opportunity. The Gilded Age was the first but by no means the last era in which Americans confronted the mixed outcomes of modern capitalism. George's accessible, forward-thinking ideas on democracy, equality, and freedom have tremendous value for contemporary debates over the future of unions, corporate power, Wall Street recklessness, government regulation, and political polarization.

Henry George and the Crisis of Inequality

Henry George and the Crisis of Inequality
Author: Edward T. O'Donnell
Publisher:
Total Pages: 0
Release: 2015
Genre: Equality
ISBN: 9780231120005

Edward T. O'Donnell's exploration of Henry George's life and times merges labor, ethnic, intellectual, and political history to illuminate the early labor movement in New York during the Gilded Age. George's accessible, forward-thinking ideas on democracy, equality, and freedom have tremendous value for contemporary debates.

The Essence of Progress and Poverty

The Essence of Progress and Poverty
Author: Henry George
Publisher: Courier Dover Publications
Total Pages: 83
Release: 2020-04-15
Genre: Business & Economics
ISBN: 048684207X

In this concise text, the distinguished American philosopher John Dewey compiled excerpts from the massive Progress and Poverty to provide those unfamiliar with Henry George's work with the essence of the author's thinking on economics. In his Foreword, Dewey noted, "It would require less than the fingers of the two hands to enumerate those who from Plato down rank with [George]. No man, no graduate of a higher educational institution, has a right to regard himself as an educated man in social thought unless he has some first-hand acquaintance with the theoretical contribution of this great American thinker." Fifteen brief chapters feature passages from George's highly influential book and examine why poverty persists throughout periods of economic and technological progress as well as the basis for economic cycles of boom and bust.

Capitalism

Capitalism
Author: Anwar Shaikh
Publisher: Oxford University Press
Total Pages: 1019
Release: 2016-01-15
Genre: Business & Economics
ISBN: 0199390657

Orthodox economics operates within a hypothesized world of perfect competition in which perfect consumers and firms act to bring about supposedly optimal outcomes. The discrepancies between this model and the reality it claims to address are then attributed to particular imperfections in reality itself. Most heterodox economists seize on this fact and insist that the world is characterized by imperfect competition. But this only ties them to the notion of perfect competition, which remains as their point of departure and base of comparison. There is no imperfection without perfection. In Capitalism, Anwar Shaikh takes a different approach. He demonstrates that most of the central propositions of economic analysis can be derived without any reference to standard devices such as hyperrationality, optimization, perfect competition, perfect information, representative agents, or so-called rational expectations. This perspective allows him to look afresh at virtually all the elements of economic analysis: the laws of demand and supply, the determination of wage and profit rates, technological change, relative prices, interest rates, bond and equity prices, exchange rates, terms and balance of trade, growth, unemployment, inflation, and long booms culminating in recurrent general crises. In every case, Shaikh's innovative theory is applied to modern empirical patterns and contrasted with neoclassical, Keynesian, and Post-Keynesian approaches to the same issues. Shaikh's object of analysis is the economics of capitalism, and he explores the subject in this expansive light. This is how the classical economists, as well as Keynes and Kalecki, approached the issue. Anyone interested in capitalism and economics in general can gain a wealth of knowledge from this ground-breaking text.

Engine of Inequality

Engine of Inequality
Author: Karen Petrou
Publisher: John Wiley & Sons
Total Pages: 291
Release: 2021-03-03
Genre: Business & Economics
ISBN: 1119726743

The first book to reveal how the Federal Reserve holds the key to making us more economically equal, written by an author with unparalleled expertise in the real world of financial policy Following the 2008 financial crisis, the Federal Reserve’s monetary policy placed much greater focus on stabilizing the market than on helping struggling Americans. As a result, the richest Americans got a lot richer while the middle class shrank and economic and wealth inequality skyrocketed. In Engine of Inequality, Karen Petrou offers pragmatic solutions for creating more inclusive monetary policy and equality-enhancing financial regulation as quickly and painlessly as possible. Karen Petrou is a leading financial-policy analyst and consultant with unrivaled knowledge of what drives the decisions of federal officials and how big banks respond to financial policy in the real world. Instead of proposing legislation that would never pass Congress, the author provides an insider's look at politically plausible, high-impact financial policy fixes that will radically shift the equality balance. Offering an innovative, powerful, and highly practical solution for immediately turning around the enormous nationwide problem of economic inequality, this groundbreaking book: Presents practical ways America can and should tackle economic inequality with fast-acting results Provides revealing examples of exactly how bad economic inequality in America has become no matter how hard we all work Demonstrates that increasing inequality is disastrous for long-term economic growth, political action, and even personal happiness Explains why your bank's interest rates are still only a fraction of what they were even though the rich are getting richer than ever, faster than ever Reveals the dangers of FinTech and BigTech companies taking over banking Shows how Facebook wants to control even the dollars in your wallet Discusses who shares the blame for our economic inequality, including the Fed, regulators, Congress, and even economists Engine of Inequality: The Fed and the Future of Wealth in America should be required reading for leaders, policymakers, regulators, media professionals, and all Americans wanting to ensure that the nation’s financial policy will be a force for promoting economic equality.

Property, Institutions, and Social Stratification in Africa

Property, Institutions, and Social Stratification in Africa
Author: Franklin Obeng-Odoom
Publisher: Cambridge University Press
Total Pages: 379
Release: 2020-03-26
Genre: Business & Economics
ISBN: 1108491995

In this book, Franklin Obeng-Odoom seeks to debunk the existing explanations of inequalities within Africa and between Africa and the rest of the world using insights from the emerging field of stratification economics. Using multiple sources - including archival and historical material and a wide range of survey data - he develops a distinctive approach that combines traditional institutional economics, such as social protection and reasonable value, property and the distribution of wealth with other insights into Africa's development. While looking at the Africa-wide situation, Obeng-Odoom also analyses the experiences of inequalities within specific countries; he primarily focuses on Ghana while also drawing on experiences in Botswana and Mauritius. Comprehensive and engaging, Property, Institutions, and Social Stratification in Africa is a useful resource for teaching and research on Africa and the Global South.

Income Inequality in Korea

Income Inequality in Korea
Author: Chong-Bum An
Publisher: Harvard University Press
Total Pages: 0
Release: 2013
Genre: Economic development
ISBN: 9780674073197

"Explores the relationship between economic growth and social developments in Korea over the last three decades. Analyzes the forces behind the trends in the narrowing of income distribution in the 1980s and early 1990s, and the deterioration evident in the post financial crisis years"--Provided by publisher.

The Annotated Works of Henry George

The Annotated Works of Henry George
Author: Francis K. Peddle
Publisher: Rowman & Littlefield
Total Pages: 508
Release: 2017-03-02
Genre: Political Science
ISBN: 1611479428

Henry George (1839–1897) rose to fame as a social reformer and economist amid the industrial and intellectual turbulence of the late nineteenth century. His best-selling Progress and Poverty (1879) captures the ravages of privileged monopolies and the woes of industrialization in a language of eloquent indignation. His reform agenda resonates as powerfully today as it did in the Gilded Age, and his impassioned prose and compelling thought inspired such diverse figures as Leo Tolstoy, John Dewey, Sun Yat-Sen, Winston Churchill, and Albert Einstein. This six-volume edition of The Annotated Works of Henry George assembles all his major works for the first time with new introductions, critical annotations, extensive bibliographical material, and comprehensive indexing to provide a wealth of resources for scholars and reformers. Volume II of this series presents the unabridged text of Progress and Poverty, arguably the most influential work of Henry George. The original text is supplemented by notes which explain the changes George made during his lifetime and the many references he made to history, literature, economics, and public policy. A new index augments accessibility to the text and key terms. The introductory essay, “The Rhetoric and the Remedy,” by series co-editor William S. Peirce, provides an overview of the historical context for George’s philosophy of economics and summarizes the argument of Progress and Poverty within the framework of the economic theories of his day. It then looks at some of the early reactions by leading economists and opinion makers to George’s fervent and eloquent call for economic justice. Henry George wrote Progress and Poverty in order to identify and resolve the great paradox of modern industrial life. How was it possible for abject poverty, financial instability, and extreme economic inequality to co-exist with rising productivity and technological progress? He analyzed and rejected the widely held beliefs that poverty inevitably followed from the laws of economics or from a Darwinian struggle for survival of the fittest. George concluded that at the heart of this dilemma was how society treated natural resources, especially urban land. He did not succumb to the panacea of arbitrarily confiscating property or taking from the rich to give to the poor. George argued that taxes on productive labor and capital should be drastically reduced. His “sovereign remedy” declared that public goods could be adequately funded from the returns to land and other natural resources. The activities of society as a whole give land its value. It is therefore both equitable and efficient for the community to tax or recapture land values to support the activities of government.