The Cost of Inequality: Why Economic Equality is Essential for Recovery

by Stewart Lansley

How are we to regain economic growth? In this seminal new book based on 60 years of data, economist Stewart Lansley shows that economic equality is necessary for economic growth. Like a tumour, the economy for the rich has grown at least 10-fold in countries like Britain and the US, sucking in ever-increasing quantities money away from circulating in the real economy. 30 years after the creed that inequality is good for us all became common wisdom, it is clear that the experiment has failed and a world of two economies has grown up. In order to regain growth in the west, we need to dismantle the economy of the rich if we want to prevent a permanent recession.

Genres: Nonfiction, Politics, Economics

288 pages, Paperback

First published October 27, 2011

Reviews

[Athene · Rating 5 out of 5]

A really good an accessible book on the pitfalls of a de-regulated financial system, going in to detail about the disastrous effects it's had on the economy including specific examples, for example the account of the private takeover of Debenhams will really make your blood boil.

It's astonishing that some people still believe that de-regulation is the only way forward, and that the markets are naturally self-regulating. It's alarming that these people seem to make up our government.

[Daniel · Rating 5 out of 5]

An excellent book on the problems facing the economy today and the rising inequality. Written simple enough for me, with a very little understanding of economics, to grasp.

[Nicole Robinson · Rating 4 out of 5]

Several typos. Did anyone proof read this book? That said, it's a good read even 10 years after the recession.

[James Elder · Rating 3 out of 5]

I have mixed feelings on this. Lansley makes a reasonably compelling argument and it contains more detail on both private equity and hedge funds than I've read elsewhere.

However, I wanted to see the overall assertion (that growing wealth inequality is actually damaging to the economy, quite apart from the social and moral arguments) nailed down with academic rigour, and this book doesn't do that.

It's too much of a polemic for my taste, and not enough of an analysis. That said, if we assume that Lansley has been fair in how he uses quotations, then some of the strongest arguments come from the industry, finance, economics and government luminaries that are referenced. When we have these people saying the system is broken, then I think we have to listen.

[Michael Pantlin · Rating 5 out of 5]

I must-read book for anyone concerned about where the economy is going and the well-being of the general population.

[Kazimiera pendrey · Rating 2 out of 5]

this book was very intersting but the drawback for me was that all the graphs and diagrams were too small for me to read

[Francis Riley · Rating 4 out of 5]

Refreshing, timely and a "must read" that probably won't be; more"s the pity!!

[Matthew Newton · Rating 4 out of 5]

Generally interesting and compelling. Some minor typographical errors. Referencing could have been slightly better.