Unequal Gains

This book provides a fresh perspective on America's economic history, focusing on income inequality rather than wealth, and explores its implications throughout the centuries.

In Unequal Gains, authors Peter Lindert and Jeffrey Williamson present a transformative perspective on the economic history of the United States. Unlike traditional historians who emphasize wealth accumulation, they delve into the intricacies of income distribution, revealing a more nuanced narrative of America's economic evolution. The book traces the journey from colonial times to the present, illustrating how the nation has experienced uneven progress, particularly in terms of income inequality.

The authors argue that while America began with a relatively egalitarian society, it has become marked by significant income disparities, particularly after the 1970s. They highlight that the nation had already achieved global income leadership by 1700, contradicting the common belief that this status emerged only in the twentieth century. The narrative also explores the loss of income advantage during pivotal historical events such as the American Revolution, the Civil War, and the Great Depression, emphasizing the cyclical nature of economic recovery and decline.

Unequal Gains not only examines the historical context of income inequality but also situates it within a broader global framework. By analyzing the impact of economic forces on various social groups, the authors provide a compelling account of who has benefited from America's growth over the centuries and the reasons behind these disparities. This book is essential for understanding the complexities of economic history and the persistent challenges of inequality in the United States.