Inequality Paradox: How Capitalism Can Work for Everyone

Description

In this accessible and thought-provoking book, leading UK economist Douglas McWilliams challenges the claims of Thomas Piketty's bestselling Capital, arguing that economic inequality is driven not by a conspiracy of the rich, but by changes in technology and globalisation. Paradoxically, they are increasing inequality even as they reduce worldwide poverty. How can these seemingly contradictory conditions exist in parallel? What ultimately drives the global distribution of wealth? Drawing on the latest research, McWilliams investigates why wealth persistently remains in the hands of the one percent, and provides a comprehensive thesis as to why no economic system has yet superseded capitalism despite the challenges of ever more uneven income distribution. He warns of the coming wave of technological transformation - the `fourth industrial revolution' - which is set to create a scarcity of unskilled jobs and explains what governments can do to prepare for this. The Inequality Paradox is written for the general reader but professional economists/policymakers will discover a fresh and authoritative new voice entering the global discussion. It is essential reading for understanding the global economy and indispensable in preparing for the imminent economic challenges of our rapidly shifting world.

DOUGLAS MCWILLIAMS is the executive chairman of CEBR, one of the UK's leading specialist economics consultancies and a highly respected source of business advice and research. He is the author of The Flat White Economy (Duckworth 2016) and lives in London.