Social structures determine wealth from "summary" of The Haves and the Have-Nots by Branko Milanovic
The distribution of wealth in any society is not random. It is a result of the underlying social structures that shape and determine the accumulation of wealth by different individuals and groups. These social structures can take various forms, such as economic systems, political institutions, cultural norms, and historical legacies. They create a set of rules and opportunities that define who can accumulate wealth and how much they can accumulate. In capitalist societies, for example, the market economy is a key social structure that determines wealth. Those who own capital or have valuable skills can generate income and accumulate wealth through their participation in the market. The rules of the market, such as property rights, competition, and contract enforcement, play a crucial role in shaping the distribution of wealth. Political institutions also play a significant role in determining wealth distribution. Governments can create policies and regulations that either promote or hinder wealth accumulation. For example, progressive taxation and...
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