Capitalism is today dominant throughout the world. But China shows that Western hopes of liberal democracy naturally following capitalist economic prosperity have not materialized. Professor Branko Milanovic takes on the broad, ambitious topic of global capitalism’s features and flaws, including growing wealth and rising inequality, and comes up with a number of original and convincing conclusions. His thought-provoking and articulate text makes for a noteworthy addition to current literature on the future of capitalism.
About the Author
Branko Milanovic is a professor at the City University of New York. He was formerly lead economist in the World Bank’s research department.
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Comment on this summary
6 months agoVery sensible framing of what is happening to China's social-political changes.
Prof. Milanovic's ideas would feel much more well-rounded if effects of "political capitalism" on former Eastern Bloc nations (as well as Russia) are also examined.