Tag Archives: underconsumption

Inequality & the First Globalisation

A follow-up to my previous post, “Did inequality cause WW1? Contra Hobson-Lenin-Milanovic“, elaborating on the inequality=>capital exports link in Branko Milanovic’s overall inequality=>ww1 claim. In the earlier post, two commenters took issue with my treatment of the inequality=>capital exports linkage. Of course I did … Continue reading

Posted in Income distribution, Industrial Revolution, Inequality, the First Globalization, The First World War | Tagged , , , , , , , | 5 Comments

Did inequality cause the First World War? Contra Hobson-Lenin-Milanovic

The “Hobson-Lenin Thesis”: inequality, ‘underconsumption’, capital exports, imperialism, and the Great War In a small section in his new book, Branko Milanovic argues that the First World War was ultimately caused by income & wealth inequality within the belligerent countries, resurrecting ideas from … Continue reading

Posted in Branko Milanovic, Foreign Investment, Inequality, the First Globalization, The First World War | Tagged , , , , , , , , , , , , , , | 20 Comments