The talk, based on Branko Milanović’s recent book "Capitalism, Alone: The Future of the System That Rules the World", will discuss and analyze systemic inequalities in liberal capitalist societies with the special emphasis on the phenomenon of homoploutia, that is, of high incomes from both labor and capital received by the same persons. Homoploutia is one of the key defining characteristics of modern capitalism, distinguishing it from its classical version. It is a desirable development because it reduces class-based distinctions, but it also encourages the formation of an elite that is more stable (thanks to its diversification of assets, including skills) and able to transfer these advantages across generations.
Speaker: Branko Milanović, Research Professor, The Graduate Center, CUNY
Moderator: Sotiria Theodoropoulou, Head of unit European economic, employment and social policies, ETUI