Finance:Capitalism, Alone

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Short description
2019 nonfiction book by Branko Milanovic
Capitalism, Alone: The Future of the System That Rules the World
Capitalism, Alone.jpg
First edition
AuthorBranko Milanovic
PublisherBelknap Press
Publication date
May 24, 2019
Preceded byGlobal inequality: A New Approach for the Age of Globalization (2016)[1] 

Capitalism, Alone: The Future of the System That Rules the World is a 2019 nonfiction book published by Harvard University Press by Branko Milanovic, an economist at the Stone Centre on Socioeconomic Inequality at the City University of New York.[2][3]


According to The Economist , in Capitalism, Alone Milanovic "argues that this unification of humankind under a single social system lends support to the view of history as a march towards progress."[2]


The review in The New Yorker said that Milanovic is a "whiz at number crunching" and "has a whimsical, wide-ranging appreciation for history and culture." Milanovic had "demonstrated how the benefits of globalization had been distributed among different classes across various groups of countries" by "using a giant World Bank database of household incomes in the 1990s. In Capitalism, Alone, he has "richly detailed" the consequences of inequality.[4]

Roberto Iacono said the book was "remarkable" and "possibly the author's most comprehensive opus so far."[5]

The Wall Street Journal said that the book was a "stunted recitation of the political and economic crises afflicting Western capitalism, an unpersuasive account of China's economic model as a potential alternative and an implausibly dystopian vision of global capitalism’s future."[6]

An article published as an International Monetary Fund (IMF) book reviews, said that the "valuable, data-rich, and thoughtful" book was an "ambitious and provocative examination of the present and the future of capitalism."[7]


  1. Milanovic, Branko (2016). Global inequality: A New Approach for the Age of Globalization. Cambridge, MA: Harvard University Press. 
  2. 2.0 2.1 "Free exchange - A scholar of inequality ponders the future of capitalism". The Economist. Finance and economics. Retrieved 2020-05-02. 
  3. Milanovic, Branko (May 24, 2019). Capitalism, Alone: The Future of the System That Rules the World. Cambridge, MA: Harvard University Press/Belknap Press. ISBN 9780674987593. 
  4. "The Rich Can't Get Richer Forever, Can They?". The New Yorker. Retrieved 2020-05-02. 
  5. "Book Review: Capitalism, Alone: The Future of the System That Rules the World by Branko Milanovic". LSE Review of Books. 2019-11-11. Retrieved 2020-05-02. 
  6. Sternberg, Joseph C. (January 20, 2020). "‘Capitalism, Alone’ Review: Inclined Toward Inequality". The Wall Street Journal (WSJ). Retrieved May 1, 2020. ""It’s not enough to presume that capitalism inherently favors the rich. The possibility that policy is to blame deserves a deeper look."" 
  7. Qureshi, Zia (March 2020). "Book Review: Capitalism, Alone by Branko Milanovic". Finance & Development 57 (1). Retrieved 2020-05-02.