What’s the most pernicious scientific idea ever? I’d give first prize to eugenics and second prize to human capital theory.

This is the first of two essays written for (and supported by) the Seoul Platform for Initiating Discourses on an Equitable and Resilient Society. These essays investigate the role that hierarchy plays in driving inequality and unsustainability. This piece introduces the facts of hierarchy.

In case you missed them, here are the Top 5 posts of the last year.

The effects of class struggle, it seems, are written in the most unlikely of places: the stock market .

In this guest post, economist Christophe Petit pays tribute to his friend and mentor David Graeber.

In 1957, Herbert Simon proposed that CEO pay had a simple explanation: it stemmed largely from rank in a hierarchy. His model was largely forgotton. Here’s a second look.

The US is in uncharted territory. Never before have stocks been so high relative to wages. Here’s what it means.

How can we improve human welfare without consuming more energy?

Ever wondered what trait most affects your income? Turns out it’s your rank in a hierarchy.

I revisit the productivity-income quagmire.