Inequality is part and parcel of our lives. What degree of inequality we find acceptable or unacceptable informs the foundational values of our societies, and shapes our political and economic structures. Yet until recently the study of economic inequality (unlike poverty) was considered by economists as a problem not worth examining. That has changed. With the dramatic increase in the concentration of wealth in the hands of a few, inequality has become recognised by all shades of political opinion as a potential threat to economic growth and the functioning of society and democracy. In A Short History of Inequality, Michele Alacevich and Anna Soci chart the emergence of the inequality question and in so doing provide a masterly overview of the work of recent scholars and the main concepts and debates that have arisen within inequality studies. Their analysis highlights how the historical diffidence to examining inequality, the relationship of inequality to the processes of globalization, and the adverse effects of inequality on democracy are all strongly intertwined. The book is an ideal introduction for students and the general reader looking to understand what's at stake when the rewards of capitalism are distributed unjustly.

This book is a fascinating study of economic history and history of economic thought. It narrates the history of the World Bank and the establishment of its role as leading development institution. The end of WWII was a crucial time: the reconstruction of Europe and the birth of the third world following decolonization, with the Cold War as a background, created a new need for development interventions and policies. The World Bank took over this challenging mission. The first general survey mission of the Bank to a developing nation the Currie Mission was in Colombia in 1949. It was a milestone for Colombia s postwar development and, for the Bank, a laboratory for the definition of policies for developing countries. With the Currie Mission as a starting point and a case study, the book analyzes the complexities of the Bank s first steps towards economic and social development in poorer nations, and helps the reader understand some foundational questions about development that are still of great relevance today. First, what is the intellectual basis, the foundation, of the Bank s activities? Paul Krugman has addressed this question referring to early intellectual debates, which he called high development theory . By revisiting this story through narrating the practice of development economics at the Bank using never-before used archival documents, Alacevich places these debates in an interesting new light. Second, what instruments could the Bank create to assist countries in their economic development? In its first years, the Bank decided to follow conservative financial policies. Only in the sixties, faced with growing disappointment within the development community, would the Bank adopt more inclusive lending policies such as social loans (e.g. housing, basic needs, health) and rejected the idea of social loans. The Bank maintained this position until the second half of the 1960s but was faced with a growing disappointment within the development community. Alacevich shows the reasons for this initial conservative approach. The lesson that can be drawn from this book is that the World Bank and the developing countries as they are today are the result of their history a history of constant transformation and adjustment to the ever-changing challenges of development. History shows paths of development, and as such it should not be ignored by today s policymakers."

"The Political Economy of the World Bank: The Early Years" is a fascinating study of economic history. This text describes perhaps what is the most crucial time for development economics: the birth of the "third world," the creation of development economics as a discipline, and the establishment of the World Bank's leading role in development.
Using previously unavailable archival material, Michele Alacevich takes a close look at the years during which the International Bank for Reconstruction and Development--now known as the World Bank-- turned its attention from reconstruction to development, having been upstaged by the Marshall Plan.He describes the "Currie Mission" to Colombia (1949-1954), the World Bank's first general survey mission in a developing nation. With the Currie Mission as a starting point and a case study, Alacevich analyzes the complexities of the Bank's first steps toward economic and social development in poorer nations, and helps the reader understand some foundational questions about development that are still of great relevance today.
"The Political Economy of the World Bank: The Early Years" is essential reading for anyone interested in the economic history of international development as a lens for better understanding current development issues.

Years before he became renowned as one of the most original social scientists of the twentieth century, Albert O. Hirschman played an active role in the rebuilding of postwar Europe. Between 1946 and 1952, he worked as an economic analyst in the Research Division of the Federal Reserve Board of the United States, focusing on the reconstruction of Europe and the Marshall Plan. In that capacity, Hirschman wrote a number of reports about European economic policies, the first efforts at intra-European cooperation, and the uncertainties that surrounded the shaping of a new international economic order with the United States at its core. The Postwar Economic Order presents a collection of these interrelated reports, which offer incisive firsthand analysis of postwar Europe and give a behind-the-scenes view of American debates on European economic recovery. They feature nuanced and sophisticated discussion of topics such as the postwar "dollar shortage," U.S.-European relations, and the first steps toward European economic integration. Hirschman provides original and perceptive interpretations of the struggles that European governments faced along their paths toward economic recovery. Throughout, Hirschman's stylistic gifts and characteristic ways of reasoning are on full display as he highlights the counterintuitive and paradoxical aspects of economic and political processes. Shedding new light on the origins of European economic cooperation, this book provides unparalleled insight into the development of Hirschman's thinking on economic development and reform.

One of the most original social scientists of the twentieth century, Albert O. Hirschman led an uncommonly dramatic life. After fleeing Nazi Germany as a youth, he fought in the Spanish Civil War, took part in antifascist activities in Italy, and organized an underground rescue operation in Marseille through which more than 2,000 people, including Marc Chagall, Arthur Koestler, and Hannah Arendt, escaped Europe. Hirschman moved across topics, methodologies, and disciplinary boundaries as fluidly as he did among countries and languages. His work is marked by a deep suspicion of all-encompassing theories, valuing instead doubt and a sensitivity to contingencies and unexpected consequences. In this intellectual biography, the economic historian Michele Alacevich explores the development and trajectory of Hirschman's characteristic approach to social-scientific questions. He traces the many strands of Hirschman's thought and their place in his multifaceted body of work, considering their limitations as well as their strengths. Alacevich puts Hirschman's ideas into context, following his participation in the major intellectual and political debates of his times. He examines Hirschman's pioneering work in development studies and his analyses of social change, the history of capitalism, and the workings of democracy alongside his activities in the postwar reconstruction of Europe and economic development in Latin America. A compelling intellectual portrait of a profoundly distinctive thinker, this book also reflects on Hirschman's legacy and lasting influence.

Years before he became renowned as one of the most original social scientists of the twentieth century, Albert O. Hirschman played an active role in the rebuilding of postwar Europe. Between 1946 and 1952, he worked as an economic analyst in the Research Division of the Federal Reserve Board of the United States, focusing on the reconstruction of Europe and the Marshall Plan. In that capacity, Hirschman wrote a number of reports about European economic policies, the first efforts at intra-European cooperation, and the uncertainties that surrounded the shaping of a new international economic order with the United States at its core. The Postwar Economic Order presents a collection of these interrelated reports, which offer incisive firsthand analysis of postwar Europe and give a behind-the-scenes view of American debates on European economic recovery. They feature nuanced and sophisticated discussion of topics such as the postwar "dollar shortage," U.S.-European relations, and the first steps toward European economic integration. Hirschman provides original and perceptive interpretations of the struggles that European governments faced along their paths toward economic recovery. Throughout, Hirschman's stylistic gifts and characteristic ways of reasoning are on full display as he highlights the counterintuitive and paradoxical aspects of economic and political processes. Shedding new light on the origins of European economic cooperation, this book provides unparalleled insight into the development of Hirschman's thinking on economic development and reform.

One of the most original social scientists of the twentieth century, Albert O. Hirschman led an uncommonly dramatic life. After fleeing Nazi Germany as a youth, he fought in the Spanish Civil War, took part in antifascist activities in Italy, and organized an underground rescue operation in Marseille through which more than 2,000 people, including Marc Chagall, Arthur Koestler, and Hannah Arendt, escaped Europe. Hirschman moved across topics, methodologies, and disciplinary boundaries as fluidly as he did among countries and languages. His work is marked by a deep suspicion of all-encompassing theories, valuing instead doubt and a sensitivity to contingencies and unexpected consequences. In this intellectual biography, the economic historian Michele Alacevich explores the development and trajectory of Hirschman's characteristic approach to social-scientific questions. He traces the many strands of Hirschman's thought and their place in his multifaceted body of work, considering their limitations as well as their strengths. Alacevich puts Hirschman's ideas into context, following his participation in the major intellectual and political debates of his times. He examines Hirschman's pioneering work in development studies and his analyses of social change, the history of capitalism, and the workings of democracy alongside his activities in the postwar reconstruction of Europe and economic development in Latin America. A compelling intellectual portrait of a profoundly distinctive thinker, this book also reflects on Hirschman's legacy and lasting influence.

Inequality endangers the fabric of our societies, distorts the functioning of democracy, and derails the globalization process. Yet, it has only recently been recognized as a problem worth examining. Why has this issue been neglected for so long? In Inequality: A Short History, Michele Alacevich and Anna Soci discuss the emergence of the inequality question in the twentieth century and explain how it is related to current issues such as globalization and the survival of democracy. The authors also discuss trends and the future of inequality. Inequality is a pressing issue that not only affects living standards, but is also inextricably linked to the way our democracies work.

Inequality is part and parcel of our lives. What degree of inequality we find acceptable or unacceptable informs the foundational values of our societies, and shapes our political and economic structures. Yet until recently the study of economic inequality (unlike poverty) was considered by economists as a problem not worth examining. That has changed. With the dramatic increase in the concentration of wealth in the hands of a few, inequality has become recognised by all shades of political opinion as a potential threat to economic growth and the functioning of society and democracy. In A Short History of Inequality, Michele Alacevich and Anna Soci chart the emergence of the inequality question and in so doing provide a masterly overview of the work of recent scholars and the main concepts and debates that have arisen within inequality studies. Their analysis highlights how the historical diffidence to examining inequality, the relationship of inequality to the processes of globalization, and the adverse effects of inequality on democracy are all strongly intertwined. The book is an ideal introduction for students and the general reader looking to understand what's at stake when the rewards of capitalism are distributed unjustly.