I've been working on income inequality for like three decades now. It has become a big political topic in the last maybe, I don't know, seven, eight, maybe ten years. You can always use the data in a way which would kind of support your priorities. And it's only measuring incomes without government transfers and taxes that is somewhat of a mistake. So we're going to get into China a little bit later and we're also getting into some of the more philosophical and my favorite part of the book. Unusual came at the end. Usually the first third of a book is the best part. In this case, I learned something in the first third, but I learned most
Economist and author Branko Milanovic of the Graduate Center, CUNY, talks about his book, Capitalism, Alone, with EconTalk host Russ Roberts. They discuss inequality, the challenge of corruption in the Chinese system, and Milanovic's claim that in American capitalism, the texture of daily life is increasingly affected by the sharing economy and other opportunities.