Capital in the Twenty-First Century

eBook, 685 pages

English language

Published Nov. 7, 2014 by Belknap Press of Harvard University Press.

ISBN:
978-0-674-43000-6
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Goodreads:
18736925

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Capital in the Twenty-First Century (French: Le Capital au XXIe siècle) is the magnum opus of the French economist Thomas Piketty. It focuses on wealth and income inequality in Europe and the United States since the 18th century. It was initially published in French (as Le Capital au XXIe siècle) in August 2013; an English translation by Arthur Goldhammer followed in April 2014.The book's central thesis is that when the rate of return on capital (r) is greater than the rate of economic growth (g) over the long term, the result is concentration of wealth, and this unequal distribution of wealth causes social and economic instability. Piketty proposes a global system of progressive wealth taxes to help reduce inequality and avoid the vast majority of wealth coming under the control of a tiny minority. However, at the end of 2014, Piketty released a paper where he stated that he does …

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