The World Under Capitalism: Observations on Economics, Politics, History, and Culture

The World Under Capitalism: Observations on Economics, Politics, History, and CultureBiographical Note: Branko Milanovic is Research Professor at the Graduate Center, City University of New York. Review Quotes: "In these essays, Milanovic has gone beyond the core topic of global inequality which has been his official calling card. He is provocative in his contentions and wonderful in his voice. He doesn't suffer fools lightly, but he is also a staunch egalitarian, engaging anyone worth our time. And he shows what it means to be a true

Biographical Note:
Branko Milanovic is Research Professor at the Graduate Center, City University of New York.

Review Quotes:
"In these essays, Milanovic has gone beyond the core topic of global inequality which has been his official calling card. He is provocative in his contentions and wonderful in his voice. He doesn't suffer fools lightly, but he is also a staunch egalitarian, engaging anyone worth our time. And he shows what it means to be a true intellectual by learning in public, not always teaching from on high."
Samuel Moyn, Yale University

"In this impressive collection, a leading economist applies his intellect to current events and issues with erudition and analytical clarity."
Jeet Heer, journalist at The Nation

"Milanovic is a renowned expert on global economic inequality. But in this collection of essays he shows that he is a wide-ranging intellectual with a fierce polemical bent. He is an egalitarian. But he is also brilliant at puncturing progressive fantasies. Among the most enjoyable essays in a collection full of them is his evisceration of the idea of "de-growth". He argues, rightly, that this would mean keeping most of humanity in desperate poverty or requiring average standards of living in the world's rich countries to be cut by about two-thirds. These are absurd fantasies."
Martin Wolf, Financial Times, Best Summer Books of 2025

Table of Contents:
Preface

PART I: THE WORLD UNDER CAPITALISM
Chapter One: Growth and Climate Change
Chapter Two: Migration
Chapter Three: Politics

PART II: INEQUALITY
Chapter Four: Inequality within Nations
Chapter Five: Global Inequality
Chapter Six: Wealth inequality
Chapter Seven: Inequality and Literature

PART III: GLOBALIZATION AND MULTI-POLAR WORLD
Chapter Eight: Globalization
Chapter Nine: China
Chapter Ten: Russia

PART IV: HISTORY
Chapter Eleven: Economic History
Chapter Twelve: Adam Smith
Chapter Thirteen: Ricardo and Marx
Chapter Fourteen: Communism
Chapter Fifteen: Transition to Capitalism

PART V: REFLECTIONS
Chapter Sixteen: Reflections

References
Index

Publisher Marketing:
Branko Milanovic is best known as one of the world's leading experts on global inequality. But he is also an unusually wide-ranging and penetrating commentator on subjects across economics and beyond, in politics, history, and culture. This book brings together his most searching, provocative, and entertaining articles of recent years, providing an abundance of vital insights into the evolution and dynamics of the world under capitalism.

The volume features important ideas about the struggle to achieve a more equal and prosperous world against not only the predictable forces of deregulation and distraction but new ideas about shrinking the economy to protect the environment. Further from Milanovic's speciality, readers will find an extraordinary array of reflections on subjects including migration, globalization, the politics and economics of Russia and China, the crisis of liberal democracy, economic and literary history, and the intellectual giants of economics. The pieces are united by Milanovic's distinctive voice - humane, wry, and realistic - and by remarkable erudition worn lightly whether the topic is the fall of Constantinople, Jane Austen, or the mores of contemporary soccer.

No one can fail to learn from the book, while the sparkling prose, unexpected observations, and sheer importance of the subjects at hand make it a compelling read from start to finish.