The Great Global Transformation: National Market Liberalism in a Multipolar World

A Financial Times Book of the Year

'Simultaneously panoramic and telescopic' Daniel Markovitz

'A penetrating analysis from the world’s foremost authority on economic inequality’ Peter Turchin

'More than anyone alive, Branko Milanovic was likely to propound a grand theory of our perplexing global moment... With brilliance, panache, and reliability, he has done it' Samuel Moyn

Global neoliberalism is on its last legs, while a new international economic order is taking hold. Trade blocs, tariff wars, economic sanctions, and national champions are in; nationalism, anti-immigration movements and the far-right are on the rise. Liberalism is being rejected by the civic realm, as the status quo of the past fifty years crumbles. What remains in its wake?

Drawing on original research, leading economist Branko Milanovic reveals the seismic shifts that are shaping our world. He details the facts: how the rising economic power of Asia is creating a new global ‘middle class’ in the greatest reshuffle of incomes since the Industrial Revolution. He explores our fears: why are we becoming increasingly unhappy, when the world is becoming richer and more equal? And he shows us the fight ahead: as plutocracy returns, global war threatens, and a new system silently shapes our nations, driving malcontent to breaking point. In The Great Global Transformation, Milanovic provides an invaluable guide to the new 21st century.

'A must read for anyone concerned about the future of the world order' Gordon Brown

'Everyone who wants to understand these titanic changes must read this book' Martin Jacques