The Great Leveller By Walter Scheidel Review An End To Inequality

This topic bears on political economy, so it can fit here in this forum as well; many here don't visit the Fever Swamps.

http://www.economist.com/news/books...nequality-according-historical-survey-lessons

Only catastrophe truly reduces inequality, according to a historical survey

As a supplier of momentary relief, the Great Depression seems an unlikely candidate. But when it turns up on page 363 of Walter Scheidel’s “The Great Leveler” it feels oddly welcome. For once—and it is only once, for no other recession in American history boasts the same achievement—real wages rise and the incomes of the most affluent fall to a degree that has a “powerful impact on economic inequality”. Yes, it brought widespread suffering and dreadful misery. But it did not bring death to millions, and in that it stands out.

...

Perhaps the most fascinating part of this book is the careful accumulation of evidence showing that mass-mobilisation warfare was the defining underlying cause of the unprecedented decrease in inequality seen across much of the Western world between 1910 and 1970 (though the merry old Great Depression lent an unusual helping hand). By demanding sacrifice from all, the deployment of national resources on such a scale under such circumstances provides an unusually strong case for soaking the rich.

... and more Fun Facts and observations in the review.

Not that the fake 'left' gets to gloat and congratulate themselves, despite the unique historical achievement of FDR; their record of promoting 'equality' is even more dismal than the usual scapegoats, so there is enough failure to go around for every ideological flavor.

Anybody think the next 'leveling' will be 'non-violent', and led by faux 'progressives'? So far they've certainly embraced class warfare, racism, and violent hate crimes, and abandoned genuine liberalism. And dialogue. And science. And education.



Page of reviews. Pick your personal ideological biased source from the selection given:

The Great Leveller By Walter Scheidel Review An End To Inequality 2017 | 2016 17 Scholarships

 

Why would anyone care about inequality? Do you really care that Bezos invents great products and is worth $10 billion or 50 billion? Why would this be an issue? We should be happy that Bezos and Brin and Musk etc are working in America and we should not scare them about how great and inequal they are!

 

What?

 

Why would anyone care about inequality?

 

Ah ... I don't see a point in sociopaths caring; no argument here.

 

Because of a concept called "human capital".

Now, to be honest, I don't want to get caught up in terms, but the fact is, some people, through the lottery of their birth have a better chance of success than those who are born less fortunate.

What we want is a system that gives those born less fortunate but capable of great potential the opportunity to reach it.

Just as a simple example. How many billionaires have died of cancer? What if the person who had the capacity to cure it was born into a family without the means to see that he received a proper education? Can you see how it might impact the wealthy to see that everyone lives up to their potential? Can you see how that might benefit the billionaires of the world?

 

One of the observations made in the book is the first bolded part, re FDR's singular historical achievement in handling the Great Depression. The likelihood of the next one being relatively non-violent is very small, at least according to the author. I don't know that that has to be the case for certain, though.

 

A 'meritocracy' is certainly what needs to be promoted, but politics can get in the way without strong leadership; many of the 'paleo-liberals' waged a desperate battle at the end of LBJ's lame duck term to stop Affirmative Action from being turned into a quota system, for instance, and succeeded, only to see Nixon revive the quota system within weeks, pandering to the Black Caucus in ploy to win back black votes to the GOP, for instance. Many left wingers of course avidly endorsed it and loved it, and the long term results have proven it cheated blacks and other minorities of the genuinely equal education they needed to truly compete with the wealthier white schools.

If one wants a lot of detail and history of how the Civil Rights movement was warped in many ways and why, get a copy of Hugh Davis Graham's The Civil Rights Era. It also has a great appendix section.

 

No idea what your point is?? We have free k-12 and almost free college more so than ever and yet we have more inequality than ever so obviously you are not making sense. Can you try again?

 

(Emphasis mine)

Almost free college?

I have two teenage girls, The cost of their educations will be $30k on the low end (that's going to a state college) and $70k at the high end (if they attend all 4 years at a private school).

Now I'm interested, they can have an education "almost for free". Please, do tell? Can everyone get this "almost free" education?

Next,

The average salary of a high school graduate is $30k and a little-known fact, 25% of people who hold bachelor's degrees, make about the same as the high school average.

And here I cut out incomes by quintile. Earning $30k put you in the second lowest of 5 quintiles (the one at the bottom is the 1% separated out).

 

Yes, do what my nephew did. He dropped out of college, did it online while working full time, bought a house, and got mostly a full scholarship to a name brand law school losing just one year in the process. And there are community colleges too. And many companies will pay for college as will the military etc etc. And companies will train on the job anyway in most cases since a company usually does a specific thing that a school cant train you to do anyway.

 

So, no, the millions of students that want to go to college cannot get an "almost free" education.

 

This isn't an answer to the question. One can imagine an all-encompassing social safety net that provides basic necessities, education, healthcare, entertainment, etc. etc. in a country with massive inequality. The rate of inequality has no direct bearing on the concept called "human capital."

 

in a free country its the billionaires choice. If they want to fund free college for ghetto kids with potential, and many do, great they should be free to do it. But if another billionaire wants a bigger yacht he should be free too. When liberal monopolist bureaucrats in govt dictate what everyone should do free people object as nature intended.

 

Yes, do what my nephew did. He dropped out of college, did it online while working full time, bought a house, and got mostly a full scholarship to a name brand law school losing just one year in the process. And there are community colleges too. And many companies will pay for college as will the military etc etc. And companies will train on the job anyway in most cases since a company usually does a specific thing that a school cant train you to do anyway.

 

You are free to advocate that opinion and I'm free to disagree with it.

 

There isn't enough scholarship money for everyone (or anything close to it) to go to college "almost free". Your anecdote does not change that.

 

You're right, that's why that money tends to go to the most exceptional students. My cousin got a free ride because she gave a **** in high school. I didn't, and so I didn't.

 

Really I'm not for "equality", I have no problem with the uber rich having things that the poor and middle class will never have.

I'm for equity. People of the lower classes should be able to live up to their potential. Eating, healthcare, housing, education etc, should not be an impediment to meeting one's potential.


The rate of inequality has no direct bearing on the concept called "human capital."[/QUOTE]

 

Okay, that's great. My whole point is that you never directly answered the question about why we should be concerned about inequality. Your answer is more appropriate to the question: "Why should we care about poverty?"

 

Irrelevant to the point I was refuting.

Having said that....

First, I have no idea what you are calling an "exceptional student". Next, some students aren't exceptional until after high school.

 

Because it empowers people to meet their potential.

 

lol you didn't have to answer the question. Yes, I agree, poverty cannot be allowed to hold people back. Glad we're lockstep on this.

 

Work as hard as I have and you'll be OK.
Sit around and demand other people's stuff and you'll be an underachieving slave to political whores all of your life

 

As I said online universities are virtually free and they are only getting better and better and more and more accessible Community colleges are virtually free too if someone wants a college education they can certainly get it and that puts them in the top 70% or so of Americans in terms of education plus there are many many great options like taking a three-month computer programming Boot Camp and getting a job starting at 70,000 a year