Capital in the Twenty-First Century

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Capital in the Twenty-First Century

2014 | Business & Finance

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 Capital in the Twenty-First Century, Thomas 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. His findings will transform debate and set the agenda for the next generation of thought about wealth and inequality.
Piketty 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. But economic trends are not acts of God. Political action has curbed dangerous inequalities in the past, Piketty says, and may do so again.
A work of extraordinary ambition, originality, and rigor, Capital in the Twenty-First Century reorients our understanding of economic history and confronts us with sobering lessons for today.
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Published by Harvard University Press

Edition Unknown
ISBN 9780674430006
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Peter Thiel recommended (curated)

 
Capital in the Twenty-First Century
Capital in the Twenty-First Century
Thomas Piketty | 2014 | Business & Finance
8.0 (1 Ratings)
Book Favorite

Accurately describes inequality in the past and present of countries like the United States."

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Alexandria Ocasio-Cortez recommended (curated)

 
Capital in the Twenty-First Century
Capital in the Twenty-First Century
Thomas Piketty | 2014 | Business & Finance
8.0 (1 Ratings)
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Carl Icahn recommended (curated)

 
Capital in the Twenty-First Century
Capital in the Twenty-First Century
Thomas Piketty | 2014 | Business & Finance
8.0 (1 Ratings)
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Sean Farrell (9 KP) rated

Mar 15, 2018  
Capital in the Twenty-First Century
Capital in the Twenty-First Century
Thomas Piketty | 2014 | Business & Finance
8
8.0 (1 Ratings)
Book Rating
I kind of knew what I was getting myself into when I started this one, but perhaps I didn't realize just to what extent. Sure, it's long, but that's not a problem for me. Sure, the subject matter is pretty dry, but it seemed like it would be an important enough work to make up for it. And it is a very important book. The history of the distribution of wealth in the civilized world, based on the most complete and accurate information available, is a matter that should concern us all, especially if we want to make sure it is handled fairly going forward. And the last 50% or so of the book (at which point it really dives into all that) is fascinating, raises some provocative points, and has some sensible solutions for the future. A star has been taken off however, because everything preceding that is largely spent explaining how the information was obtained and repeatedly explaining mathematical formulas, both of which are kind of a slog to get through, and contributed greatly to just how long it took me to get through this book. I am glad I read it though, and if nothing else, I do feel a bit smarter for having done so.