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Capital in the Twenty First Century
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Capital in the Twenty First Century
BOOK DETAIL
Hardcover: 704 pages Publisher: Belknap Press: An Imprint of Harvard University Press (2014) Language:
English ISBN-10: 067443000X ISBN-13: 978-0674430006 Product Dimensions: 6.5 x 1.8 x 9.2 inches
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Book 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. 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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