Capital in the Twenty-First Century

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Essential analysis of wealth and inequality.

This book is an eye-opener for anyone interested in the long-term evolution of inequality and economic growth. Piketty's careful analysis of historical data shows that, while modern growth has decreased inequality, structural issues still need to be addressed. His arguments are sure to spark debate and are especially relevant in today's economic climate.

Capital in the Twenty-First Century

Regular price RM103.20 MYR
Unit price
per
ISBN: 9780674430006
Date of Publication: 2014-03-10
Format: Hardcover
Goodreads rating: 4.06
(rated by 31842 readers)

Description

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.
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Essential analysis of wealth and inequality.

This book is an eye-opener for anyone interested in the long-term evolution of inequality and economic growth. Piketty's careful analysis of historical data shows that, while modern growth has decreased inequality, structural issues still need to be addressed. His arguments are sure to spark debate and are especially relevant in today's economic climate.