{"product_id":"elite-networks-the-political-economy-of-inequality-9780197774236","title":"Elite Networks: The Political Economy of Inequality","description":"\u003cem\u003eElite Networks\u003c\/em\u003e presents a new explanatory factor behind the persistence of income inequality: extractive political power. \u003cp\u003e\u003c\/p\u003eElite 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\u003cem\u003e Elite Networks\u003c\/em\u003e, 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.\u003cbr\u003e\u003cbr\u003e\u003cbr\u003e\u003cb\u003eAbout the Author\u003c\/b\u003e\u003cbr\u003e\u003cstrong\u003eVuk Vukovic \u003c\/strong\u003e 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.\u003cbr\u003e","brand":"Oxford University Press, USA","offers":[{"title":"Default Title","offer_id":50489647235346,"sku":"9780197774236","price":36.99,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0831\/4771\/8930\/files\/img_6cf35ab2-8e50-48f3-9686-6f075e9cabad.jpg?v=1730504596","url":"https:\/\/surprise-castle.myshopify.com\/products\/elite-networks-the-political-economy-of-inequality-9780197774236","provider":"Surprise Castle","version":"1.0","type":"link"}