In 'The Inequality of Wealth', Liam Byrne explores how wealth has been concentrated among the few in the UK, particularly since the rise of neoliberalism. The book proposes corrective measures such as boosting labour incomes through knowledge-intensive jobs and creating a wealth-owning democracy through reforms like Universal Savings Accounts and wealth taxation.
In *Doughnut Economics*, Kate Raworth presents a new economic model that combines the concept of planetary boundaries with social boundaries. The 'doughnut' framework aims to ensure that no one falls short on life's essentials while preventing the overshoot of Earth's life-supporting systems. Raworth argues for a shift from growth-at-any-costs mentality to an economy that prioritizes human and planetary well-being, drawing on diverse schools of thought including ecological, behavioral, feminist, and institutional economics. The book offers seven key ways to reframe economic thinking for the 21st century, emphasizing the need for economies that are regenerative and distributive by design.
Das Kapital is a comprehensive critique of capitalism written by Karl Marx. The work is divided into three volumes. Volume I, published in 1867, focuses on the production process of capital, introducing the concept of surplus value and the exploitation of labor. Volume II, published posthumously in 1885, examines the circulation of capital, while Volume III, published in 1894, discusses the capitalist process as a whole, including the internal differentiation of the capitalist class and the tendency of the rate of profit to fall. Marx argues that capitalism is characterized by the exploitation of labor, leading to class conflict and eventual crises that necessitate the emergence of a new mode of production[1][4][5].
The Labour MP Liam Byrne is Chair of the House of Commons Business and Trade Select Committee. He also served on the front bench for both prime ministers Gordon Brown and Tony Blair. So he is well-positioned to be thinking about some of society's more pressing economic questions and these are the focus of his recent book, The Inequality of Wealth: Why it Matters and How to Fix it. Joining Byrne in conversation for this episode by the economist and writer Tej Parikh, Economics Leader Writer for The Financial Times.
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