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Unequal Gains: American Growth and Inequality since 1700

Hardback

Main Details

Title Unequal Gains: American Growth and Inequality since 1700
Authors and Contributors      By (author) Peter H. Lindert
By (author) Jeffrey G. Williamson
SeriesThe Princeton Economic History of the Western World
Physical Properties
Format:Hardback
Pages:424
Dimensions(mm): Height 235,Width 152
Category/GenreEconomic history
ISBN/Barcode 9780691170497
ClassificationsDewey:339.20973
Audience
Undergraduate
Postgraduate, Research & Scholarly
Professional & Vocational
Illustrations 30 b/w illus., 78 tables

Publishing Details

Publisher Princeton University Press
Imprint Princeton University Press
Publication Date 19 April 2016
Publication Country United States

Description

Unequal Gains offers a radically new understanding of the economic evolution of the United States, providing a complete picture of the uneven progress of America from colonial times to today. While other economic historians base their accounts on American wealth, Peter Lindert and Jeffrey Williamson focus instead on income--and the result is a bold reassessment of the American economic experience. America has been exceptional in its rising inequality after an egalitarian start, but not in its long-run growth. America had already achieved world income leadership by 1700, not just in the twentieth century as is commonly thought. Long before independence, American colonists enjoyed higher living standards than Britain--and America's income advantage today is no greater than it was three hundred years ago. But that advantage was lost during the Revolution, lost again during the Civil War, and lost a third time during the Great Depression, though it was regained after each crisis. In addition, Lindert and Williamson show how income inequality among Americans rose steeply in two great waves--from 1774 to 1860 and from the 1970s to today--rising more than in any other wealthy nation in the world. Unequal Gains also demonstrates how the widening income gaps have always touched every social group, from the richest to the poorest. The book sheds critical light on the forces that shaped American income history, and situates that history in a broad global context. Economic writing at its most stimulating, Unequal Gains provides a vitally needed perspective on who has benefited most from American growth, and why.

Author Biography

Peter H. Lindert is Distinguished Professor of Economics at the University of California, Davis. His books include Growing Public: Social Spending and Economic Growth since the Eighteenth Century. He lives in Davis, California. Jeffrey G. Williamson is the Laird Bell Professor of Economics, emeritus, at Harvard University. His books include Trade and Poverty: When the Third World Fell Behind. He lives in Madison, Wisconsin. Both are research associates at the National Bureau of Economic Research.

Reviews

"[I]ts conclusions are both accessible and urgent."--Kirkus "Brilliant... A masterpiece in quantitative and qualitative economic research destined to become a classic in its field."--Library Journal, starred review "An ambitious and rigorous attempt to address some long-overlooked questions about U.S. economic development."--Helen Fessenden, Econ Focus "[Unequal Gains] traces how inequality surged and receded in American history... The book contains an unprecedented graph that goes all the way back to the eve of independence and charts how unequal people's incomes were... This is as much a work of history as it is a work of economics."--Washington Post "Stunning."--Kenneth Stewart and Casey Jones, Standard-Times