capital in the twenty first century by thomas piketty

While mainly focusing on national pictures it does not lack a global scope. The book has an admirably wide scope, offering systematic comparisons not only across advanced and emerging economies, but also across modern history. Piketty is concerned with the dynamics of income and wealth since the eighteenth century to draw lessons for the century ahead. This is a truly path-breaking book offering a hard-hitting and well-founded critique of capitalism in the twenty-first century. However, I soon found that the perseverance required was extremely worthwhile. The book has more than 500 pages and is often repetitive, as well as being full of formulas and graphs which for non-economists are off-putting. At first, I found this hard to understand. Thomas Piketty’s book has received enormous attention and lavish praise from academics and policy-makers alike, including Mark Carney and Christine Lagarde. One can only hope that his work will actually influence adoption of his policy recommendations.Ĭapital in the Twenty-First Century. No wonder his thoughts have resonated even at the highest political levels.

Piketty shows himself to be not only a supereconomist but also a skilled politician, writes Christel Lane.

In Capital in the Twenty-First Century, Thomas Piketty seeks to analyse a unique collection of data from twenty countries, ranging as far back as the eighteenth century, to uncover key economic and social patterns. But satisfactory answers have been hard to find for lack of adequate data and clear guiding theories. 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.

Capital in the twenty first century by thomas piketty