The Birth of Modern Prosperity, Part IV: Grasping Towards Equality (with Branko Milanovic)
The Industrial Revolution played in the hands of the rich. A century after James Watt revealed his steam engine in 1776, the richest 1% owned a whopping 70% of British wealth. Then things changed. Across rich countries, inequality plummeted for decades. Join Branko Milanovic on this quest to understand the evolution of inequality during the building of modern prosperity. Our conversation ranges from Karl Marx to the "golden age” of American capitalism and from Yugoslavia’s market socialism to China's rise. To explore this theme with the help of graphs and visuals, see my essay at OnHumans.Substack.com. SUPPORT THE SHOW On Humans is free and without ads. If you want to support my work, you can do so at Patreon.com/OnHumans. Thank you for all my existing supporters for their invaluable help in keeping the show running! ANNOUNCEMENT I'm writing a book! It is about the history of humans, for readers of all ages. Patreon members get access to early drafts. Chapters 1-3 are available now.