Documents Hopkin, Jonathan 2 results

"In this introduction to the special issue “The New Politics of Inequality in Europe,” recent literature on income inequality in the advanced democracies is summarized. It is argued that dominant accounts are too heavily focused on the United States, whereas the experience of Western European countries has been neglected. Although income inequality has risen nearly everywhere in the rich industrial democracies since the end of the 1970s, it has done so from different starting points, at different rates, and for reasons connected to different mechanisms and different parts of the distribution. Extending the analysis to Western Europe enables us to understand these variations more fully. "

"Thomas Piketty's imposing volume has brought serious economics firmly into the mainstream of public debate on inequality, yet political science has been mostly absent from this debate. This article argues that political science has an essential contribution to make to this debate, and that Piketty's important and powerful book lacks a clear political theory. It develops this argument by first assessing and critiquing the changing nature of political science and its account of contemporary capitalism, and then suggesting how Piketty's thesis can be complemented, extended and challenged by focusing on the ways in which politics and collective action shape the economy and the distribution of income and wealth. Although Capital's principal message is that ‘capital is back' and that without political interventions active political interventions will continue to grow, a political economy perspective would suggest another rather more fundamental critique: the very economic forces Piketty describes are embedded in institutional arrangements which can only be properly understood as political phenomena. In a sense capital itself – the central concept of the book – is almost meaningless without proper consideration of its political foundations. Even if the fact of capital accumulation may respond to an economic logic, the process is embedded in a very political logic. The examples of housing policy and the regulation, and failure to regulate, financial markets are used to illustrate these points."