The essay “From Riches to Rags and… Back Again?” explores the transformation of China’s wealth distribution, particularly how descendants of pre-Mao wealthy elites regained their status after Mao Zedong’s rule. Initially, Mao’s communist policies aimed to eliminate income inequality by redistributing land and assets from landlords to peasants. However, despite these efforts, Mao’s reforms were not entirely successful in suppressing the wealthy class. After Mao’s death, Deng Xiaoping’s market-oriented reforms further facilitated the re-emergence of wealth disparities. The essay proposes three explanations: Mao’s policies did not fully suppress the elite, the former wealthy class leveraged superior access to resources and education, and Deng’s reforms favored the resurgence of these families. Ultimately, a combination of these factors contributed to the re-emergence of wealth inequality in modern China.