The Greatest of All Plagues

 

Capitalism solved the problem of production, one of my professors used to say, but it's up to others to solve the problem of distribution. That "problem of distribution" is increasingly the problem of economic inequality, which is incredibly worse now than it was 50 years ago when I was studying political theory. As political scientist David Lay Williams reminds us in this latest - and very traditional - conversation within the history of political theory, whereas 'in 1965, the average CEO earned 21.1 times as much as a typical worker at the same company," by 2021,  the average CEO "earned 351.1 times as much as a typical worker at the same company."

The Greatest of All Plagues: How Economic Inequality Shaped Political Thought From Plato to Marx (Princeton U. Pr., 2024) is written in the format of a traditional history of political theory, treating the political philosophies of Plato, the NewTestament, Thomas Hobbes, Jean-Jacques Rousseau, Adam Smith, John Stuart Mill, and Karl Marx. The book takes its title from Plato's Laws, 744d, where the Athenian Stranger characterizes civil war as the greatest of all plagues, which he describes as an inevitable outcome of economic inequality. Plato's Laws in fact famously restrict inequality to a 4:1 ratio.

Williams takes us through some of the traditional canon of political theory, focusing on theorists' (beginning with Plato) preoccupation with civic unity and harmony and the obstacles that inordinate accumulations of great wealth have long been recognized as posing for societies. "Perhasp the single most common theme uniting thinkers in this book regarding the problem of inequality is the degree to whcih inequality divides political communities."

His particular bete-noir is sufficientarianism, which is preoccupied with alleviating poverty rather than overcoming inequality. With Adam Smith, the traditional zero-sum view of the economy changed importantly with the new capitalist understanding of economic growth. One consequence of the reality of economic growth has been the sufficientarian preoccupation with poverty to the neglect of inequality. Yet, as Plato's 4:1 ratio reminds us, there are limits to how much inequality a society can appropriately tolerate. Sufficientariansim, according to Williams, "severely constrains the moral imagination as it has been expressed throughout history." It also ignores something well understood by the theorists analyzed in this book, namely "the corrupting effect of inequality on the rich themselves."

This well written retrieval of the tradition of the history of political thought offers a rich treatment of why and how economic inequality contributes to social disunity, political instability, and deep-seated personal and collective moral corruption.