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Visions of Inequality with Branko Milanovic

New Enlightenment

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Economic Theories and Future Society

This chapter examines the interconnected economic theories of Adam Smith, David Ricardo, and Karl Marx, with a focus on their views of societal classes and development. It contrasts Smith's vision of the endpoint of commercial society with Marx's perspective on ongoing societal evolution, especially in the context of artificial intelligence's impact on labor and income inequality. The discussion emphasizes the relevance of historical insights to contemporary economic issues, including the current state of democracy and the challenges posed by state capitalism.

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