Winner of the Bruno Kreisky Prize, Karl Renner Institut
A Financial Times Best Economics Book of the Year
An Economist Best Book of the Year
A Livemint Best Book of the Year


One of the world’s leading economists of inequality, Branko Milanovic presents a bold new account of the dynamics that drive inequality on a global scale. Drawing on vast data sets and cutting-edge research, he explains the benign and malign forces that make inequality rise and fall within and among nations. He also reveals who has been helped the most by globalization, who has been held back, and what policies might tilt the balance toward economic justice.

“The data [Milanovic] provides offer a clearer picture of great economic puzzles, and his bold theorizing chips away at tired economic orthodoxies.”
—The Economist

“Milanovic has written an outstanding book…Informative, wide-ranging, scholarly, imaginative and commendably brief. As you would expect from one of the world’s leading experts on this topic, Milanovic has added significantly to important recent works by Thomas Piketty, Anthony Atkinson and François Bourguignon…Ever-rising inequality looks a highly unlikely combination with any genuine democracy. It is to the credit of Milanovic’s book that it brings out these dangers so clearly, along with the important global successes of the past few decades.
—Martin Wolf, Financial Times

As the world transitions from an industrial society to an information society, agriculture has undergone a dramatic transformation. Food production in the twentieth century was transformed by three revolutions: first mechanical, then genetic, and finally chemical. Now, in the twenty-first century, agriculture is going through at least two more revolutions: an information technology revolution leading to precision farming, and a biotechnology revolution leading to genetically engineered crops.

Organized by Harvard University’s David Rockefeller Center for Latin American Studies with the collaboration of the Scientific Committee for Problems of the Environment, this interdisciplinary volume examines the impact of a variety of new technological, social, and economic trends on the rural environment.

Since the late 1970s, Protestantism has emerged as a major force in the political and economic life of rural Guatemala. Indeed, as Sheldon Annis argues in this book, Protestantism may have helped tip Guatemala's guerrilla war in behalf of the army during the early 1980s.

But what is it about Protestantism—and about Indians— that has led to massive religious conversion throughout the highlands? And in villages today, what are the dynamics that underlie the competition between Protestants and Catholics?

Sheldon Annis addresses these questions from the perspective of San Antonio Aguas Calieutes, an Indian village in the highlands of midwestern Guatemala. Annis skillfully blends economic and cultural analysis to show why Protestantism has taken root. The key "character" in his drama is the village Indian's tiny plot of corn and beans, the milpa, which Annis analyzes as an "idea" as well as an agronomic productive system. By exploring "milpa logic," Annis shows how the economic, environmental, and social shifts of the twentieth century have acted to undercut "the colonial creation of Indianness" and, in doing so, have laid the basis for new cultural identities.

An Economist Best Book of the Year
A Financial Times Best Economics Book of the Year
A Fast Company “7 Books Microsoft CEO Satya Nadella Says You Need to Lead Smarter”

Between 1820 and 1990, the share of world income going to today’s wealthy nations soared from twenty percent to almost seventy. Since then, that share has plummeted to where it was in 1900. As the renowned economist Richard Baldwin reveals, this reversal of fortune reflects a new age of globalization that is drastically different from the old. The nature of globalization has changed, but our thinking about it has not.

Baldwin argues that the New Globalization is driven by knowledge crossing borders, not just goods. That is why its impact is more sudden, more individual, more unpredictable, and more uncontrollable than before—which presents developed nations with unprecedented challenges as they struggle to maintain reliable growth and social cohesion. It is the driving force behind what Baldwin calls “The Great Convergence,” as Asian economies catch up with the West.

“In this brilliant book, Baldwin has succeeded in saying something both new and true about globalization.”
—Martin Wolf, Financial Times

“A very powerful description of the newest phase of globalization.”
—Larry Summers, former U.S. Secretary of the Treasury

“An essential book for understanding how modern trade works via global supply chains. An antidote to the protectionist nonsense being peddled by some politicians today.”
—The Economist

“[An] indispensable guide to understanding how globalization has got us here and where it is likely to take us next.”
—Alan Beattie, Financial Times

For all the turmoil that roiled financial markets during the Great Recession and its aftermath, Wall Street forecasts once again turned bullish and corporate profitability soared to unprecedented heights. How does capitalism consistently generate profits despite its vulnerability to destabilizing events that can plunge the global economy into chaos? The Great Levelerelucidates the crucial but underappreciated role of the law in regulating capitalism’s rhythms of accumulation and growth.

Brett Christophers argues that capitalism requires a delicate balance between competition and monopoly. When monopolistic forces become dominant, antitrust law steps in to discourage the growth of giant corporations and restore competitiveness. When competitive forces become dominant, intellectual property law steps in to protect corporate assets and encourage investment. These two sets of laws—antitrust and intellectual property—have a pincer effect on corporate profitability, ensuring that markets become neither monopolistic, which would lead to rent-seeking and stagnation, nor overly competitive, which would drive down profits.

Christophers pursues these ideas through a close study of the historical development of American and British capitalist economies from the late nineteenth century to the present, tracing the relationship between monopoly and competition in each country and the evolution of legal mechanisms for keeping these forces in check. More than an illuminating study of the economic role of law, The Great Leveler is a bold and fresh dissection of the anatomy of modern capitalism.

This study provides a comprehensive overview of Korea’s macroeconomic growth and structural change since World War II, and traces some of the roots of development to the colonial period. The authors explore in detail colonial development, changing national income patterns, relative price shifts, sources of aggregate growth, and sources of sectoral structural change, comparing them with other countries.