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Capital in the twenty-first century

Author: Thomas Piketty; Arthur Goldhammer
Publisher: Cambridge Massachusetts : The Belknap Press of Harvard University Press, 2017 ©2014
Edition/Format:   Print book : EnglishView all editions and formats
Summary:
Piketty analyzes a unique collection of data from twenty countries, ranging as far back as the eighteenth century, to uncover key economic and social patterns and shows that modern economic growth and the diffusion of knowledge have allowed us to avoid inequalities. He argues, however, that the tendency of returns on capital to exceed the rate of economic growth will generate extreme inequalities that stir
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Additional Physical Format: Erscheint auch als:
Piketty, Thomas, 1971
Capital in the twenty-first century
Cambridge, Mass. [u.a.] : Belknap Press of Harvard Univ. Press, 2014
VIII, 685 S.
Erscheint auch als:
Piketty, Thomas, 1971
Capital in the twenty-first century
Cambridge Massachusetts : The Belknap Press of Harvard University Press, 2014
1 Online-Ressource (vii, 685 pages)
Document Type: Book
All Authors / Contributors: Thomas Piketty; Arthur Goldhammer
ISBN: 9780674979857 0674979850
OCLC Number: 1002915724
Description: ix, 793 Seiten. : Diagramme. ; 22 cm.
Other Titles: Capital in the 21st century.
Responsibility: Thomas Piketty ; translated by Arthur Goldhammer.

Abstract:

Piketty analyzes a unique collection of data from twenty countries, ranging as far back as the eighteenth century, to uncover key economic and social patterns and shows that modern economic growth and the diffusion of knowledge have allowed us to avoid inequalities. He argues, however, that the tendency of returns on capital to exceed the rate of economic growth will generate extreme inequalities that stir discontent and undermine democratic values if political action is not taken.

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 work the author analyzes a unique collection of data from twenty countries, ranging as far back as the eighteenth century, to uncover key economic and social patterns. His findings transform debate and set the agenda for the next generation of thought about wealth and inequality. He shows that modern economic growth and the diffusion of knowledge have allowed us to avoid inequalities on the apocalyptic scale predicted by Karl Marx. But we have not modified the deep structures of capital and inequality as much as we thought in the optimistic decades following World War II. The main driver of inequality, the tendency of returns on capital to exceed the rate of economic growth, today threatens to generate extreme inequalities that stir discontent and undermine democratic values if political action is not taken. But economic trends are not acts of God. Political action has curbed dangerous inequalities in the past, the author says, and may do so again. This original work reorients our understanding of economic history and confronts us with sobering lessons for today.

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Thomas Piketty's Capital in the 21st Century is arguably the most important popular economics book in recent memory. It will take its place among other classics in the field that have survived Read more...

 
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