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Elite Networks

The Political Economy of Inequality

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Oxford University Press


Paru le : 2024-04-23



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Description
Elite Networks presents a new explanatory factor behind the persistence of income inequality: extractive political power. Elite networks are informal social networks between politicians in power and top executives of politically connected firms where personal ties and long-term interactions build trust and loyalty between involved actors. Both groups draw benefits from these interactions; politicians stay in power, and corporate executives extract rents for their firms. Firms reward connected executives with higher salaries thus widening the dispersion of earnings in society. In Elite Networks, Vuk Vukovic offers a different perspective on the long-run origins of inequality. Calling upon historical arguments and direct empirical evidence, Vukovic argues that inequality is not an artifact of a particular economic system, but a man-made phenomenon rooted deeply within the, often violent, quest for political power. Further, he theoretically and empirically establishes the impact elite networks have on higher inequality. Offering a unique contribution to the field, this book argues that to lower inequality and prevent incentives of elite network formation, we must first and foremost lower centralized political power and re-empower the citizens and the community by rebuilding trust and relying on the democratic trial-and-error mechanism.
Pages
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Collection
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Parution
2024-04-23
Marque
Oxford University Press
EAN papier
9780197774229
EAN PDF
9780197774243
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0
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0
Taille du fichier
32758 Ko
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Prix
26,49 €
EAN EPUB
9780197774250
Informations sur l'ebook
Nombre pages copiables
0
Nombre pages imprimables
0
Taille du fichier
20869 Ko
Ce livre est accessible aux handicaps Voir les informations sur l'accessibilité
Prix
26,49 €
Vuk Vuković is the CIO and cofounder of Oraclum Capital, a New York hedge fund based on a scientific innovation in network theory. He has a PhD from the University of Oxford, and an MSc from the London School of Economics. He published a dozen academic papers during his time as a university lecturer, and his academic work on political economy and networks has inspired his business ventures.

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