Capital in the Twenty First Century

Capital in the Twenty First Century

Piketty has written a book that nobody interested in a defining issue of our era can afford to ignore.” —John Cassidy, New Yorker “Stands a fair chance of becoming the most influential work of economics yet published in our young ...

Author: Thomas Piketty

Publisher: Harvard University Press

ISBN: 9780674982932

Category: Business & Economics

Page: 816

View: 592

The main driver of inequality—returns on capital that exceed the rate of economic growth—is again threatening to generate extreme discontent and undermine democratic values. Thomas Piketty’s findings in this ambitious, original, rigorous work will transform debate and set the agenda for the next generation of thought about wealth and inequality.
Categories: Business & Economics

Capital in the Twenty First Century

Capital in the Twenty First Century

5 10 11 Stephen Marche, “The Most Important Book of the Twenty-First Century,” Esquire, accessed January 20, 2015, http://www.esquire. com/blogs/news/thomas-piketty-capital. 6 Jacob Hacker, Paul Pierson, Heather Boushey, ...

Author: Nick Broten

Publisher: CRC Press

ISBN: 9781351350259

Category:

Page:

View: 904

Thomas Piketty is a fine example of an evaluative thinker. In Capital in the Twenty-First Century, he not only provides detailed and sustained explanations of why he sees existing arguments relating to income and wealth distribution as flawed, but also gives us very detailed evaluations of the significance of a vast amount of data explaining why incomes is distributed in the ways it is. As Piketty stresses, "the distribution question... deserves to be studied in a systematic and methodical fashion." This stress on evaluating the significance of data leads him to focus on the central evaluative questions, and look in turn at the acceptability, relevance, and adequacy of existing justifications for the unequal distribution of wealth. In doing so, Piketty applies his understanding of the data to answering the deeply important question of what political structures and what policies are necessary to move us towards a more equal society. Piketty's evaluation of the data supports his argument that inequality cannot be depended on to reduce over time: indeed, without government intervention, it is highly likely to increase. In addition, he evaluates international data to argue that poor countries do not necessarily become less poor as a result of foreign investment. This strong emphasis on the interrogation of data, rather than the building mathematical models that are divorced from data, is a defining feature of Piketty's work.
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Capital in the Twenty First Century

Capital in the Twenty First Century

Finally, Chapter 12 looks at the prospects for the global distribution of wealth over the first few decades of the twenty-first century. The purpose of Part Four, titled “Regulating Capital in the TwentyFirst Century” and consisting of ...

Author: Thomas Piketty

Publisher: Harvard University Press

ISBN: 9780674979857

Category: Business & Economics

Page: 816

View: 187

The main driver of inequality—returns on capital that exceed the rate of economic growth—is again threatening to generate extreme discontent and undermine democratic values. Thomas Piketty’s findings in this ambitious, original, rigorous work will transform debate and set the agenda for the next generation of thought about wealth and inequality.
Categories: Business & Economics

Understanding Piketty s Capital in the Twenty First Century

Understanding Piketty s Capital in the Twenty First Century

Few economic treatises have received anything like the reception that greeted Capital in the Twenty-First Century. Besides making the top of many bestseller lists shortly after it was published, it seemed as though everyone wanted to ...

Author: Steven Pressman

Publisher: Routledge

ISBN: 9781317380023

Category: Business & Economics

Page: 196

View: 802

Thomas Piketty’s Capital in the Twenty-First Century reached the top of most best-seller lists last year shortly after it was released. Nonetheless, few people actually read the book. Yet reviewers have agreed that the book is important because it touches on one of the major problems facing the US economy, the UK economy and many developed nations: rising income and wealth inequality. It also provides an explanation of the problem and a policy solution: a global wealth tax. This book is intended to do three things. First, it provides a summary of the argument of Piketty’s book, which many people have bought and few people have read. Second, it fills in some of the gaps in the book, by providing readers with the background that is needed to understand the volume and the argument. This background information discusses economic data sources, measures of inequality and why income inequality is such an important issue today. Finally, the work provides a defense of Piketty’s analysis and at times some criticism of his work. Pressman explains why the problem of rising inequality is important, where Piketty’s data comes from, and the strengths and weaknesses of that data. It defends Piketty’s inequality, r>g, as the reason inequality has risen over the past several decades in many developed nations. Using Piketty’s own data, this book argues that rising inequality is not just a characteristic of capitalism, but results from different growth rates for income and wealth, which can occur under any type of economic system. Understanding Piketty's Capital in the Twenty-First Century is the ideal introduction to one of the most important books of recent years for anyone interested in Piketty’s work and the inevitability of inequality.
Categories: Business & Economics

Capital in the Twenty First Century

Capital in the Twenty First Century

NOTES 1 2 3 10 12 13 14 15 16 17 18 19 20 21 22 23 Thomas Piketty, Capital in the Twenty-First Century (Cambridge: Harvard University Press, 2014), 254. Piketty, Capital, 292. Piketty, Capital, 272–292. 4 Piketty, Capital, 272–292.

Author: Nick Broten

Publisher: CRC Press

ISBN: 9781351352048

Category: Business & Economics

Page: 114

View: 853

Thomas Piketty is a fine example of an evaluative thinker. In Capital in the Twenty-First Century, he not only provides detailed and sustained explanations of why he sees existing arguments relating to income and wealth distribution as flawed, but also gives us very detailed evaluations of the significance of a vast amount of data explaining why incomes is distributed in the ways it is. As Piketty stresses, “the distribution question... deserves to be studied in a systematic and methodical fashion.” This stress on evaluating the significance of data leads him to focus on the central evaluative questions, and look in turn at the acceptability, relevance, and adequacy of existing justifications for the unequal distribution of wealth. In doing so, Piketty applies his understanding of the data to answering the deeply important question of what political structures and what policies are necessary to move us towards a more equal society. Piketty’s evaluation of the data supports his argument that inequality cannot be depended on to reduce over time: indeed, without government intervention, it is highly likely to increase. In addition, he evaluates international data to argue that poor countries do not necessarily become less poor as a result of foreign investment. This strong emphasis on the interrogation of data, rather than building mathematical models that are divorced from data, is a defining feature of Piketty’s work.
Categories: Business & Economics

Thomas Piketty s Capital in the Twenty First Century

Thomas Piketty   s Capital in the Twenty First Century

What has Piketty achieved – and what has he not? How accurate is his critique of conditions – and what standard ideologies are transmitted by Capital in the Twenty-First Century? Here we will deal less with his economic demands, ...

Author: Stephan Kaufmann

Publisher: Verso Books

ISBN: 9781784786151

Category: Political Science

Page: 96

View: 893

An introduction to Thomas Piketty’s monumental work US Nobel Prize winner Paul Krugman described Thomas Piketty’s Capital in the Twenty-First Century as “perhaps the most important book of the last decade”. It has sparked major international debates, dominated bestseller lists and generated a level of enthusiasm—as well as intense criticism—in a way no other recent economic or sociological work has. Piketty has been described as a new Karl Marx and placed in the same league as the economist John Maynard Keynes. The ‘rock star economist’s’ (Financial Times) underlying thesis: inequality under capitalism has reached dramatic proportions in the last few decades and continues to grow—and not by coincidence. Thus, a small elite becomes simultaneously richer and richer and more and more powerful. Given the sensational reception of the not-so-easily digested 800-page study that spans back to the eighteenth century, the question as to where the hype around Piketty’s book comes from deserves to be asked. What is correct in it? What are the criticisms of it? And what should we make of it—both of the book itself and of the criticism it has received? This book lays out the argument of Piketty’s monumental work in a compact and understandable format, while also investigating the controversies that this book has caused. In addition, the two authors demonstrate the limits, contradictions and errors of the so-called ‘Piketty revolution’.
Categories: Political Science

Book Review Capital in the Twenty First Century by Thomas Piketty

Book Review  Capital in the Twenty First Century by Thomas Piketty

Although Capital in the Twenty-First Century had a favourable reception in France upon its publication, it owes most of its success to the Americans. In fact, the United States was the first place where it became a real bestseller.

Author: 50MINUTES,

Publisher: 50Minutes.com

ISBN: 9782806281227

Category: Business & Economics

Page: 42

View: 620

It can be hard for busy professionals to find the time to read the latest books. Stay up to date in a fraction of the time with this concise guide. Thomas Piketty’s 2013 book Capital in the Twenty-First Century was an immediately bestseller in the UK and US, and has been widely praised by both economists and the general public. Piketty provides a richly detailed account of the development of inequality in the Western world, and argues that economic inequality is an inherent feature of capitalism and can only be resolved by decisive action from governments. His powerful historical insights are backed by extensive data and analysis, thus offering a thorough critique of the modern capitalist system. Whatever your political and economic leanings, Piketty’s ideas are sure to provide plenty of food for thought. This book review and analysis is perfect for: • Anyone interested in the causes of wealth inequality in Europe and the USA • Anyone who wants to understand how this inequality can be overcome • Students of, or anyone interested in, modern politics and economics About 50MINUTES.COM | BOOK REVIEW The Book Review series from the 50Minutes collection is aimed at anyone who is looking to learn from experts in their field without spending hours reading endless pages of information. Our reviews present a concise summary of the main points of each book, as well as providing context, different perspectives and concrete examples to illustrate the key concepts.
Categories: Business & Economics

Capital in the Twenty First Century A Critical Reflection of Growth and Inequality

Capital in the Twenty First Century  A Critical Reflection of Growth and Inequality

The book can be differentiated between its historical contribution as well as the extrapolation of the past in order to predict future developments concerning growth and inequality as well as implications for the institutions in the 21st ...

Author: Anonym

Publisher:

ISBN: 3346453170

Category:

Page: 38

View: 807

Essay aus dem Jahr 2019 im Fachbereich BWL - Wirtschafts- und Sozialgeschichte, Note: 1.7, Zeppelin University Friedrichshafen, Sprache: Deutsch, Abstract: The question of income and wealth inequality is not a mere economic question but also a political with a social dimension. The distribution is chaotic, unpredictable and can change rapidly under different institutional conditions. Nevertheless, growth and inequality are central components of capitalism, as there have always been profiteers and losers from the distribution issue. In contrast to other bestsellers, The Capital in the 21st Century written by Thomas Piketty is widely discussed because the book contributes a serious and discourse changing view on the question of inequality. Piketty caused a great stir, especially among conservatives, in the course of 2014 and sparked manifold discussions not only among economists, but also in a broader public. The book can be differentiated between its historical contribution as well as the extrapolation of the past in order to predict future developments concerning growth and inequality as well as implications for the institutions in the 21st century. The aim of the following paper is therefore not to examine the historical correctness, but the general theoretical approach as well as the political implications. Accordingly, Piketty's explanations on growth and inequality are elaborated in chapter 2. Chapter 3 reflects "Capital in the 21st century" from the perspective of growth, while chapter 4 focuses on inequality. The paper concludes in chapter 5 with a summary of Piketty's arguments and a selection of counterarguments. Furthermore, limitations and an outlook are discussed.
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Capital in the Twenty First Century In the Rest of the World

Capital in the Twenty First Century    In the Rest of the World

This is because dictators are hardly the loyal servants of the economic elite -- in fact, they are often responsible for soaking, if not destroying, the rich under autocracy.

Author: Michael Albertus

Publisher:

ISBN: OCLC:1306261065

Category:

Page: 38

View: 285

Recent work has documented a spiraling upward trend in inequality since the 1970s. Most prominently, Thomas Piketty argues in “Capital in the 21st Century” that this is partially due to the fact that capitalism is hardwired to exacerbate the gap between the rich and poor. In seeking to critically evaluate recent literature on these topics, this article offers three big contributions. We advance an alternative explanation for the long-term U-shaped nature of inequality that Piketty examines. Something other than war and globalization can account for the, at first sharply falling, then sharply rising, pattern of inequality over the long 20th century. We also demonstrate that this pattern only really holds for a handful of industrialized economies and a subset of developing countries. Finally, we provide a unified framework centered on two unorthodox assumptions that can explain inequality patterns beyond the U-shaped one. Capitalists and landholders actually prefer democracy if they can first strike a deal that protects them after transition. This is because dictators are hardly the loyal servants of the economic elite -- in fact, they are often responsible for soaking, if not destroying, the rich under autocracy.
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