Anna Soci (former professor of Macroeconomics at the University of Bologna) and Stefano Toso (professor of Public Economics at the University of Bologna) will discuss the book with the author Guido Alfani (professor of Economic History at Bocconi University, Milan); Giorgio Tassinari (professor of Economic statistics at the University of Bologna) will introduce and moderate.
Abstract:
The rich have always fascinated, sometimes in problematic ways. Medieval thinkers feared that the super-rich would act ‘as gods among men’; much more recently Thomas Piketty made wealth central to discussions of inequality. In this book, Guido Alfani offers a history of the rich and super-rich in the West, examining who they were, how they accumulated their wealth and what role they played in society. Covering the last thousand years, with frequent incursions into antiquity, and integrating recent research on economic inequality, Alfani finds—despite the different paths to wealth in different eras—fundamental continuities in the behaviour of the rich and public attitudes towards wealth across Western history. His account offers a novel perspective on current debates about wealth and income disparity.
Alfani argues that the position of the rich and super-rich in Western society has always been intrinsically fragile; their very presence has inspired social unease. In the Middle Ages, an excessive accumulation of wealth was considered sinful; the rich were expected not to appear to be wealthy. Eventually, the rich were deemed useful when they used their wealth to help their communities in times of crisis. Yet in the twenty-first century, Alfani points out, the rich and the super-rich—their wealth largely preserved through the Great Recession and COVID-19—have been exceptionally reluctant to contribute to the common good in times of crisis, rejecting even such stopgap measures as temporary tax increases. History suggests that this is a troubling development—for the rich, and for everyone else.
A sweeping narrative that shows how the rich historically justified themselves by helping their societies in times of crisis, why they no longer do, and what that may mean for social stability.
Free admission
"In this masterly book, [Alfani] offers an insightful long-run perspective and fascinating lessons for the future. A must-read!"—Thomas Piketty
