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In The Media

Bill Moyers April 18, 2014
   
Capital in the Twenty-First Century
by Thomas Piketty and Arthur Goldhammer

Overview - What are the grand dynamics that drive the accumulation and distribution of capital? Questions about the long-term evolution of inequality, the concentration of wealth, and the prospects for economic growth lie at the heart of political economy.  Read more...

 
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More About Capital in the Twenty-First Century by Thomas Piketty; Arthur Goldhammer
 
 
 
Overview
What are the grand dynamics that drive the accumulation and distribution of capital? Questions about the long-term evolution of inequality, the concentration of wealth, and the prospects for economic growth lie at the heart of political economy. But satisfactory answers have been hard to find for lack of adequate data and clear guiding theories. In this title, Thomas Piketty analyzes a unique collection of data from twenty countries, ranging as far back as the 18th century, to uncover key economic and social patterns.

 
Details
  • ISBN-13: 9780674430006
  • ISBN-10: 067443000X
  • Publisher: Belknap Press
  • Publish Date: April 2014
  • Page Count: 685


Related Categories

Books > Business & Economics > Economic History
Books > Business & Economics > Economics - Comparative
Books > Business & Economics > Economics - Theory

 
Publishers Weekly Reviews

Publishers Weekly® Reviews

  • Reviewed in: Publishers Weekly, page .
  • Review Date: 2014-11-03
  • Reviewer: Staff

The rich get richer, through no fault—or virtue—of their own, according to this sweeping study of wealth in the modern world. Economist Piketty's formula "r > g" expresses the simple but profound insight that because the returns on capital—interest on savings, stock dividends and appreciation, rent from a farm or apartment building—usually exceed the economy's growth rate, wealth (especially inherited wealth) tends to grow faster than wages and become more concentrated at the top of the income scale, and the economy increasingly caters to rich elites instead of ordinary workers. (The best antidote to this inexorable tendency, he argues, is a direct progressive tax on wealth.) Piketty makes his case with three centuries' worth of economic data from around the world organized in a trove of detailed but lucid tables and graphs. This is a serious, meaty economic treatise, but Piketty's prose (in Goldhammer's deft translation) is wonderfully readable and engaging, and illuminates the human reality behind the econometric stats—especially in his explorations of the role of capital in the novels of Jane Austen and Balzac. Full of insights but free of dogma, this is a seminal examination of how entrenched wealth and intractable inequality continue to shape the economy. (Mar.)

 
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