|I don't know how long it'll take me to read this 600+ page tome, |
but when I do I'll probably share some choice excerpts here.
'What are the major conclusions to which these novel historical sources have led me? The first is that one should be wary of any economic determinism in regard to inequalities of wealth and income. The history of the distribution of wealth has always been deeply political, and it cannot be reduced to purely economic mechanisms... The second conclusion, which is at the heart of this book, is that the dynamics of wealth distribution reveal powerful mechanisms pushing alternately toward convergence [that is, the reduction of inequalities] and divergence [that is, the exacerbation of them]. Furthermore, there is no natural, spontaneous process to prevent destabilizing, inegalitarian forces from prevailing permanently' (20-21).