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Wednesday, January 29, 2025
Hoover Institution | Stanford University

Vincent Geloso, assistant professor of economics at George Mason University, discussed his forthcoming book, The First Egalitarian Enrichment: Economic Growth and Inequality in America, 1870 to 1945.

PARTICIPANTS

Vincent Geloso, John Taylor, John Cochrane, Michael Boskin, Doug Branch, Sami Diaf, Jared Franz, Bob Hall, Jon Hartley, Robert Hetzel, Laurie Hodrick, Robert Hodrick, Ken Judd, Morris Kleiner, Evan Koenig, David Laidler, Jacob Light, Axel Merk, Roger Mertz, Ilian Mihov, Paul Peterson, Valerie Ramey, Stephen Redding, Georg Rich, Kunal Sangani, J.R. Scott, Krishna Sharma, Richard Sousa, David Splinter, Jack Tatom, Harald Uhlig, Gavin Wright, Alexander Zentefis

ISSUES DISCUSSED

Vincent Geloso, assistant professor of economics at George Mason University, discussed his forthcoming book, The First Egalitarian Enrichment: Economic Growth and Inequality in America, 1870 to 1945.

John Taylor, the Mary and Robert Raymond Professor of Economics at Stanford University and the George P. Shultz Senior Fellow in Economics at the Hoover Institution, was the moderator.

BOOK SUMMARY

It is frequently believed that the period from 1870 to 1945 was marked by rising inequality to the highest plateau in American economic history. This is incorrect. The present work provides a series of corrections to the inequality data—many of which are uncontroversial since they are commonly used in inequality research for today. They show that inequality and poverty fell rapidly from the 1870s onwards. Growth during that period was egalitarian. It was the first era of egalitarian enrichment.

To read the slides, click the following link
https://www.hoover.org/sites/default/...