All articles from Branko Milanovic
New capitalism III: Capital
This is the third (and presently the final) installment of my short essays on new capitalism. This essay deals with income from ownership of productive and financial assets that for simplicity I shall call "income from capital". There are three important things to know about capital income under new
New Capitalism II: Compositional vs income inequality
In my last Substack I discussed the concept of homoploutia. In brief, for those who do not feel like (re)reading my entire post, it is based on the empirical observation that in modern capitalist societies an increasing share of the rich are rich in two dimensions: they are among the best paid worke