Capital in the Twenty-First Century

Capital in the Twenty-First Century

Capital in the Twenty-First Century

Capital in the Twenty-First Century


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A New York Times #1 Bestseller
An Amazon #1 Bestseller
A Wall Street Journal #1 Bestseller
A USA Today Bestseller
A Sunday Times Bestseller
A Guardian Best Book of the 21st Century
Winner of the Financial Times and McKinsey Business Book of the Year Award
Winner of the British Academy Medal
Finalist, National Book Critics Circle Award

“It seems safe to say that Capital in the Twenty-First Century, the magnum opus of the French economist Thomas Piketty, will be the most important economics book of the year—and maybe of the decade.”
—Paul Krugman, New York Times

“The book aims to revolutionize the way people think about the economic history of the past two centuries. It may well manage the feat.”
The Economist

“Piketty’s Capital in the Twenty-First Century is an intellectual tour de force, a triumph of economic history over the theoretical, mathematical modeling that has come to dominate the economics profession in recent years.”
—Steven Pearlstein, Washington Post

“Piketty has written an extraordinarily important book…In its scale and sweep it brings us back to the founders of political economy.”
—Martin Wolf, Financial Times

“A sweeping account of rising inequality…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 century. It is the most important study of inequality in over fifty years.”
—Timothy Shenk, The Nation

Product Details

ISBN-13: 9780674979857
Publisher: Harvard University Press
Publication date: 08/14/2017
Edition description: Reprint
Pages: 816
Sales rank: 75,111
Product dimensions: 5.50(w) x 8.50(h) x 2.00(d)

About the Author

Thomas Piketty is Professor at École des Hautes Études en Sciences Sociales (EHESS) and the Paris School of Economics and Codirector of the World Inequality Lab.

Table of Contents

Acknowledgments vii

Introduction 1

Part 1 Income and Capital

1 Income and Output 39

2 Growth: Illusions and Realities 72

Part 2 The Dynamics of the Capital/Income Ratio

3 The Metamorphoses of Capital 113

4 From Old Europe to the New World 140

5 The Capital/Income Ratio over the Long Run 164

6 The Capital-Labor Split in the Twenty-First Century 199

Part 3 The Structure of Inequality

7 Inequality and Concentration: Preliminary Bearings 237

8 Two Worlds 271

9 Inequality of Labor Income 304

10 Inequality of Capital Ownership 336

11 Merit and Inheritance in the Long Run 377

12 Global Inequality of Wealth in the Twenty-First Century 430

Part 4 Regulating Capital in the Twenty-First Century

13 A Social State for the Twenty-First Century 471

14 Rethinking the Progressive Income Tax 493

15 A Global Tax on Capital 515

16 The Question of the Public Debt 540

Conclusion 571

Notes 579

Contents in Detail 657

List of Tables and Illustrations 665

Index 671

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