Capital in the Twenty-First Century

Author: Thomas Piketty

Publisher: Harvard University Press

ISBN: 0674979850

Category: Business & Economics

Page: 816

View: 9975

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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.

Capital in the Twenty-First Century

Author: Thomas Piketty

Publisher: Harvard University Press

ISBN: 0674369548

Category: Business & Economics

Page: 696

View: 7755

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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.

Thomas Piketty's Capital in the Twenty-First Century

An Introduction

Author: Stephen Kaufmann,Ingo Stützle

Publisher: Verso Books

ISBN: 1784786160

Category: Political Science

Page: 96

View: 3771

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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 economic or sociological work has in a long time. 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” underlying thesis is that inequality under capitalism has reached dramatic levels in the last few decades and continues to grow—and that this is not by chance. A small elite is making itself richer and richer and acquiring everincreasing levels of power. Given the sensational reception of Piketty’s not-so-easily digested 800-page study, the question as to where the hype around the book comes from deserves to be asked. What does it get right? And what should we make of it—both of the book itself and of the criticism it has received? This introduction lays out the argument of Piketty’s monumental work in a compact and understandable format, while also investigating the controversies Piketty has stirred up. In addition, the two authors demonstrate the limits, contradictions and errors of the so-called Piketty revolution.

After Piketty

The Agenda for Economics and Inequality

Author: Heather Boushey,J. Bradford DeLong,Marshall Steinbaum

Publisher: Harvard University Press

ISBN: 067497817X

Category: Business & Economics

Page: 688

View: 3035

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Are Thomas Piketty’s analyses of inequality on target? Where should researchers go from here in exploring the ideas he pushed to the forefront of global conversation? In After Piketty, a cast of economists and other social scientists tackle these questions in dialogue with Piketty, in what is sure to be a much-debated book in its own right.

Understanding Piketty's Capital in the Twenty-First Century

Author: Steven Pressman

Publisher: Routledge

ISBN: 1317380029

Category: Business & Economics

Page: 212

View: 2354

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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.

The Economics of Inequality

Author: Thomas Piketty

Publisher: Harvard University Press

ISBN: 0674504801

Category: Business & Economics

Page: 142

View: 7737

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Succinct, accessible, and authoritative, Thomas Piketty’s The Economics of Inequality is the ideal place to start for those who want to understand the fundamental issues at the heart of one the most pressing concerns in contemporary economics and politics. This work now appears in English for the first time.

The Contradictions of Capital in the Twenty-first Century

The Piketty Opportunity

Author: Pat Hudson,Keith Tribe

Publisher: Agenda Publishing

ISBN: 9781911116103

Category: Business & Economics

Page: 256

View: 9066

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This volume of essays builds upon renewed interest in the long-run global development of wealth and inequality stimulated by the publication in 2014 of Thomas Piketty's Capital in the Twenty-First Century. It brings together an international team of leading economic historians and economists to provide a comprehensive overview of global developments in the theory, practice, and policy of inequality, and its place in the modern world order. The contributors take stock of the key concepts involved - capital, wealth and income, inequality, economic development, financialization - and evaluate the evidence for historical trends in existing national statistical data sources. To the developed economies upon which Piketty drew are added contributions covering Latin America, Africa, India, and Japan, providing a global perspective upon a global phenomenon. The book seeks to provide readers with a deeper awareness and understanding of the significance of equality and inequality in economic development, the varying pace of economic change around the world, and the manner in which this process of change affects the distribution of wealth and inequality in diverse economies. The collection marks an important step in the process of developing Piketty's analytical framework and empirical material, overcoming its limitations and helping to cement a lasting place for inequality in the agenda of growth theory.

Piketty's Capital in the Twenty-First Century

Author: Edward Fullbrook,Jamie Morgan

Publisher: N.A

ISBN: 9781848901575

Category: Business & Economics

Page: 286

View: 2749

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Thomas Piketty's book Capital in the 21st Century has already attracted more serious attention than any economics book published in the last seventy-five years. This collection of 17 essays by some of the world's most prominent economists explores Piketty's book at depth and from various vantage points. Here is what economists around the world are already saying about this book. "Marx's Capital is strong on theory but, it detractors allege, weak on data. In a dialectic worthy of Hegel himself, the critics assembled here argue that Piketty's Capital stands opposite to Marx's, as strong on data but weak on theory. This combination--plus its exquisite timing--explains it critical acclaim. The juxtaposition of economic stagnation and obscene inequality in the aftermath of the financial crisis made it impossible for mainstream economists to continue ignoring inequality, let alone applauding it as they have done for so long. Piketty made it possible for them to acknowledge it without abandoning their comforting but false mainstream theories of capitalism. These authors in this volume applaud Piketty for his contribution to empirical knowledge, but reject his views on how this inequality came about. The true Capital for the 21st century is still yet to be written." - Steve Keen, Kingston University, London "Neoclassical economics spawned a utopian belief in capitalism with unregulated market forces. Thomas Piketty's empirical analysis has dealt a fatal blow to that belief by highlighting the recent huge redistributions of income and wealth to the ultra-rich. This raises a fundamental question for people around the world: How do we achieve a better world through economic policies? This global collection addresses that question and explores theoretical explanations for Piketty's empirical findings." - Ping Chen, Fudan University and Peking University, China "Are the theoretical explanations proposed by Thomas Piketty of the rising inequalities valid? What is the meaning of his first and second "laws" of capitalism? This book is indispensable for anyone seeking answers to these questions." - Andre Orlean, Ecole des Hautes Etudes en Sciences Sociales, Paris "By examining Thomas Piketty's Capital in the Twenty-First Century from different angles, the 18 contributors to this invaluable book add enormously to our understanding of inequality and of policy options for reducing it. They point to the lack of a distinction between rentier income and earned income, to the severe limits of marginal productivity theory that Piketty employs and to the utopian nature of Piketty's only suggested remedy. - Norbert Haering, Economics Editor, Handelsblatt, Germany "Piketty's book Capital in the Twentieth Century served the cause of drawing the world's attention to inequality under capitalism in the long haul, based on a fresh and innovative look at new evidence. This book serves that cause even better by focusing on the inadequacies of Piketty's analysis of the processes and mechanisms leading to that inequality, and, therefore, on what needs to be done to address it." - C. P. Chandrasekhar, Jawaharlal Nehru University, New Delhi "Thomas Piketty's Capital in the Twenty-First Century was the publishing sensation of 2104, focussing the world's attention on the huge and continuing growth in inequality that poses a serious economic, political and social threat to us all. In this important new book, 18 economists from Europe, North America and Asia offer sympathetic but critical appraisals of Piketty's theoretical framework, his empirical analysis and his radical policy proposals. This is not the last word on Piketty - whatever could be? - but it is indispensable reading for everyone who is interested in one of the most important challenges of our time." - John King, La Trobe University, Australia

Anti-Piketty

Capital for the 21st Century

Author: Jean-Philippe Delsol,Nicolas Lecaussin,Emmanuel Martin

Publisher: Cato Institute

ISBN: 1944424261

Category: Political Science

Page: 374

View: 5052

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Thomas Piketty's book Capital in the Twenty-First Century has enjoyed great success and provides a new theory about wealth and inequality. However, there have been major criticisms of his work. Anti-Piketty: Capital for the 21st Century collects key criticisms from 20 specialists—economists, historians, and tax experts—who provide rigorous arguments against Piketty's work while examining the notions of inequality, growth, wealth, and capital.

World Population and Human Capital in the Twenty-First Century

An Overview

Author: Wolfgang Lutz,William P. Butz,Samir K. C.

Publisher: Oxford University Press

ISBN: 0198813422

Category: Business & Economics

Page: 680

View: 6134

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Condensed into a detailed analysis and a selection of continent-wide datasets, this revised edition of World Population & Human Capital in the Twenty-First Century addresses the role of educational attainment in global population trends and models. Presenting the full chapter text of the original edition alongside a concise selection of data, it summarizes past trends in fertility, mortality, migration, and education, and examines relevant theories to identify key determining factors. Deriving from a global survey of hundreds of experts and five expert meetings on as many continents, World Population & Human Capital in the Twenty-First Century: An Overview emphasizes alternative trends in human capital, new ways of studying ageing and the quantification of alternative population, and education pathways in the context of global sustainable development. It is an ideal companion to the county specific online Wittgenstein Centre Data Explorer.

Pocket Piketty

Author: Jesper Roine

Publisher: Zed Books Ltd.

ISBN: 1786992353

Category: Business & Economics

Page: 160

View: 2494

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Thomas Piketty’s Capital in the Twenty-First Century has been hailed as a masterpiece, making a powerful case that wealth inequality is not an accident, but rather an inherent feature of capitalism. But how many of us who bought or borrowed the book have read more than a fraction of its 700+ pages? And how many of Piketty’s groundbreaking ideas have gone unappreciated, all for want of intellectual stamina? In this handy volume, Jesper Roine – whose own work was relied upon by Piketty – explains in clear and accessible prose the key concepts behind, and controversies surrounding, Piketty’s landmark work.

Top Incomes in France in the Twentieth Century

Inequality and Redistribution, 1901–1998

Author: Thomas Piketty

Publisher: Harvard University Press

ISBN: 0674986237

Category: Business & Economics

Page: 1104

View: 4443

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A landmark in contemporary social science, this pioneering work by Thomas Piketty explains the facts and dynamics of income inequality in France in the twentieth century. On its publication in French in 2001, it helped launch the international program led by Piketty and others to explore the grand patterns and causes of global inequality—research that has since transformed public debate. Appearing here in English for the first time, this stunning achievement will take its place alongside Capital in the Twenty-First Century as a modern classic of economic analysis. Top Incomes in France in the Twentieth Century is essential in part because of Piketty’s unprecedented efforts to uncover, untangle, and present in clear form data about patterns in tax and inheritance in France dating back to 1900. But it is also an exceptional work of analysis, tracking and explaining with Piketty’s characteristically lucid prose the effects of political conflict, war, and social change on the economic pressures and public policies that determined the lives of millions. A work of unusual intellectual power and ambition, Top Incomes in France in the Twentieth Century is a vital resource for anyone concerned with the economic, political, and social history of France, and it is central to ongoing debates about social justice, inequality, taxation, and the evolution of capitalism around the world.

The Piketty Phenomenon

New Zealand Perspectives

Author: Geoff Bertram,Simon Chapple,Donal Curtin,Brian Easton,Max Harris,Tim Hazledine,Bernard Hickey,Prue Hyman,Hautahi Kingi,Gareth Morgan,Matt Nolan,Max Rashbrooke,Susan St John,Robert Wade,Cathy Wylie

Publisher: Bridget Williams Books

ISBN: 192727771X

Category: Business & Economics

Page: 192

View: 7701

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Few books have had the global impact of Thomas Piketty’s Capital in the Twenty-First Century. An overnight bestseller, Piketty’s assessment that inherited wealth will always grow faster, on average, than earned wealth has energised debate. Hailed as ‘bigger than Marx’ (The Economist) or dismissed as ‘medieval’ (Wall Street Journal), the book is widely acknowledged as having significant economic and political implications. Collected in this BWB Text are responses to this phenomenon from a diverse range of New Zealand economists and commentators. These voices speak independently to the relevance of Piketty’s conclusions. Is New Zealand faced with a one-way future of rising inequality? Does redistribution need to focus more on wealth, rather than just income? Was the post-war Great Convergence merely an aberration and is our society doomed to regress into a new Gilded Age?

Why Save the Bankers?

And Other Essays on Our Economic and Political Crisis

Author: Thomas Piketty

Publisher: HMH

ISBN: 0544663292

Category: Business & Economics

Page: 240

View: 4678

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Reflections on politics, the economy, and the modern world by the #1 New York Times–bestselling author of Capital in the Twenty-First Century. Thomas Piketty’s work has proved that unfettered markets lead to increasing inequality, and that without meaningful regulation, capitalist economies will concentrate wealth in an ever smaller number of hands, threatening democracy. For years, his newspaper columns have pierced the surface of current events to reveal the economic forces underneath. Why Save the Bankers? collects these columns from the period between the September 2008 collapse of Lehman Brothers and the November 2015 terrorist attacks in Paris. In crystalline prose, Piketty examines a wide range of topics, and along the way he decodes the European Union’s economic troubles, weighs in on oligarchy in the United States, wonders whether debts actually need to be paid back, and discovers surprising lessons about inequality by examining the career of Steve Jobs. Coursing with insight and flashes of wit, these brief essays offer a view of recent history through the eyes of one of the most influential economic thinkers of our time. “Easy to follow for readers without much knowledge of economics, especially when [Piketty] picks apart topics that defy classical economic logic; in this he resembles Paul Krugman, who similarly writes clearly on complex topics . . . Helps make sense of recent financial history.” —Kirkus Reviews “Anyone with an interest in politics, monetary policy, or international diplomacy will get a kick out of Piketty’s clear discussion.” —Shelf Awareness “If you have been influenced by Piketty’s landmark work on inequality, make sure to read this next.” —Naomi Klein, author of The Shock Doctrine and This Changes Everything

21st Century Capitalism

Author: Robert L. Heilbroner

Publisher: W. W. Norton & Company

ISBN: 0393312283

Category: Business & Economics

Page: 176

View: 1458

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Reflecting on the end of communism, the author of the best-selling The Worldly Philosophers examines the many faces of capitalism, looking for the aspects of a market economy that will be most capable of succeeding against today's toughest dilemmas.

Top Incomes

A Global Perspective

Author: A. B. Atkinson,Thomas Piketty

Publisher: OUP Oxford

ISBN: 0191500887

Category: Business & Economics

Page: 800

View: 5033

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A rapidly growing area of economic research investigates the top of the income distribution using data from income tax records. This volume brings together studies of top incomes for twelve countries from around the world, including China, India, Japan, Argentina and Indonesia. Together with the first volume, published in 2007, the studies cover twenty two countries. They have a long time span, the earliest data relating to 1875 (for Norway), allowing recent developments to be placed in historical perspective. The volume describes in detail the source data and the methods employed. It will be an invaluable reference source for researchers in the field. Individual country chapters deal with the specific nature of the data for each of the countries, and describe the long-term evolution of top income shares. In the countries as a whole, dramatic changes have taken place at the top of the income distribution. Over the first part of the century, top income shares fell markedly. This largely took the form of a reduction in capital incomes. The different authors examine the impact of the First and Second World Wars, contrasting countries that were and were not engaged. They consider the impact of depressions and banking crises, and pay particular attention to the impact of progressive taxation. In the last 30 years, the shares of top incomes have increased markedly in the US and other Anglo-Saxon countries, reflecting the increased dispersion of earnings. The volume includes statistics on the much-discussed top pay and bonuses, providing a global perspective that discusses important differences between countries such as the lesser increase in Continental Europe. This book, together with volume 1, documents this interesting development and explores the underlying causes. The findings are brought together in a final summary chapter by Atkinson, Piketty and Saez.

Against Capital in the Twenty-first Century

A Reader of Radical Undercurrents

Author: John Asimakopoulos,Richard Gilman-Opalsky

Publisher: N.A

ISBN: 9781439913574

Category: Philosophy

Page: 390

View: 1886

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The problems of capitalism have been studied from Karl Marx to Thomas Piketty. The latter has recently confirmed that the system of capital is deeply bound up in ever-growing inequality without challenging the continuance of that system. Against Capital in the Twenty-First Century presents a diversity of analyses and visions opposed to the idea that capital should have yet another century to govern human and non-human resources in the interest of profit and accumulation. The editors and contributors to this timely volume present alternatives to the whole liberal litany of administered economies, tax policy recommendations, and half-measures. They undermine and reject the logic of capital, and the foregone conclusion that the twenty-first century should be given over to capital just as the previous two centuries were. Providing a deep critique of capitalism, based on assessment from a wide range of cultural, social, political, and ecological thinking, Against Capital in the Twenty-First Century insists that transformative, revolutionary, and abolitionist responses to capital are even more necessary in the twenty-first century than they ever were.

The Spirit Level

Why Greater Equality Makes Societies Stronger

Author: Richard Wilkinson,Kate Pickett

Publisher: Bloomsbury Publishing USA

ISBN: 9781608191703

Category: Social Science

Page: 400

View: 6206

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This groundbreaking book, based on thirty years' research, demonstrates that more unequal societies are bad for almost everyone within them-the well-off and the poor. The remarkable data the book lays out and the measures it uses are like a spirit level which we can hold up to compare different societies. The differences revealed, even between rich market democracies, are striking. Almost every modern social and environmental problem-ill health, lack of community life, violence, drugs, obesity, mental illness, long working hours, big prison populations-is more likely to occur in a less equal society. The book goes to the heart of the apparent contrast between material success and social failure in many modern national societies. The Spirit Level does not simply provide a diagnosis of our ills, but provides invaluable instruction in shifting the balance from self-interested consumerism to a friendlier, more collaborative society. It shows a way out of the social and environmental problems which beset us, and opens up a major new approach to improving the real quality of life, not just for the poor but for everyone. It is, in its conclusion, an optimistic book, which should revitalize politics and provide a new way of thinking about how we organize human communities.

Debt - Updated and Expanded

The First 5,000 Years

Author: David Graeber

Publisher: Melville House

ISBN: 1612194206

Category: Business & Economics

Page: 566

View: 9815

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Now in paperback, the updated and expanded edition: David Graeber’s “fresh . . . fascinating . . . thought-provoking . . . and exceedingly timely” (Financial Times) history of debt Here anthropologist David Graeber presents a stunning reversal of conventional wisdom: he shows that before there was money, there was debt. For more than 5,000 years, since the beginnings of the first agrarian empires, humans have used elaborate credit systems to buy and sell goods—that is, long before the invention of coins or cash. It is in this era, Graeber argues, that we also first encounter a society divided into debtors and creditors. Graeber shows that arguments about debt and debt forgiveness have been at the center of political debates from Italy to China, as well as sparking innumerable insurrections. He also brilliantly demonstrates that the language of the ancient works of law and religion (words like “guilt,” “sin,” and “redemption”) derive in large part from ancient debates about debt, and shape even our most basic ideas of right and wrong. We are still fighting these battles today without knowing it.