Rent-Seekers, Profits, Wages and Inequality

Mihályi and Szelényi provide a timely contribution to contemporary debates about inequality of incomes and wealth, offering a careful examination of various sources of rent in contemporary societies, and considering several policy options to reduce inequality in order to preserve the meritocratic nature of liberal democracies.

While Rent-Seekers, Profits, Wages and Inequality acknowledges the rapid and disturbing increase of incomes and wealth in the top 1 or 0.1%, it focuses on the increasing rent component of incomes and wealth in the top 20% as even more consequential. The attention to cutting-edge issues on inequality in macroeconomics, political science and sociology will appeal to social scientists interested in income distribution and wealth accumulation.

Focuses on the top earning 20% of society, rather than the top 1 or 0.1% Addresses the role of rent in issues such as class reproduction, wealth, sources of social instability and inequality Provides a post-classical narrative of political economy

Autorentext
Péter Mihályi is Professor in the Department of Macroeconomics, Corvinus University of Budapest, and Visiting Professor at the Central European University, Hungary.

Iván Szelényi is William Graham Sumner Emeritus Professor of Sociology and Political Science, Yale University, and Max Weber Emeritus Professor of Social Sciences, New York University, Abu Dhabi.

Klappentext
This is an original account of two of the most important social trends today: rising income inequality and declining class mobility. Underlining the contemporary relevance of classical economics and sociology, the authors show how rent-seeking has created a new elite that threatens democracy and entrenches an upper middle class, where economic advantage is passed from one generation to the next. This is social science in the grand tradition sweeping and urgent in its analysis and implications. Bruce Western, Professor of Sociology, Columbia University, USA The most important book on recent trends in socio-economic inequality since Piketty`s Capital in the 20th Century. -- Karl Ulrich Mayer, Stanley B. Resor Professor Emeritus of Sociology and Professor, Institution for Social and Policy Studies, Yale University, USA; Director Emeritus, Max Planck Institute of Human Development, Germany Inequality is one of the biggest challenges of our time. This book provides an important addition to the debate, combining in an original way economic, sociological and historical analysis Gerard Roland, E. Morris Cox Professor of Economics and Professor of Political Science, University of California, Berkeley, USAMihályi and Szelényi provide a timely contribution to contemporary debates about inequality of incomes and wealth, offering a careful examination of various sources of rent in contemporary societies, and considering several policy options to reduce inequality in order to preserve the meritocratic nature of liberal democracies.

While Rent Seekers, Profits, Wages and Rents acknowledges the rapid and disturbing increase of incomes and wealth in the top 1 or 0.1%, it focuses on the increasing rent component of incomes and wealth in the top 20% as even more consequential. The attention to cutting-edge issues on inequality in macroeconomics, political science and sociology will appeal to social scientists interested in income distribution and wealth accumulation.

Inhalt

Chapter 1 Introduction.- Chapter 2: Rent in Classical Economic, Social and Political Theory.- Chapter 3: Thirteen Types of Rent in the Globalized World.- Chapter 4: Class Reproduction of the Upper Middle Class (Top 20%).- Chapter 5: Stages of Rent-Seeking Under Post-Communism.- Chapter 6: Rent-Securing by the Nation-States and Rent Destruction by Globalization.- Chapter 7: Theoretical and Policy Conclusions.