For this book is less a work of economic analysis than a bizarre ideological screed.

inequality under capitalism has reached dramatic proportions in the last. Piketty's data-and there are reasons for skepticism, given the author's own caveats and the fact that many early statistics are based on extremely limited samples of estate tax records and dubious extrapolation-is ultimately of little consequence. US Nobel Prize winner Paul Krugman described Thomas Pikettys Capital in the. All of that stuff Marx was worried about were just teething. He presents a blizzard of data about income distribution in many countries, claiming to show that inequality has widened dramatically in recent decades and will soon get dangerously worse. In the middle of the 20th century economists were predicting that Capitalism had changed its ways.

Piketty's dense exploration of the history of wages and wealth over the past three centuries. 'Capital in the Twenty-First Century' is Mr. The way to do this is to eliminate high incomes and to reduce existing wealth through taxation. and data) and the parallel increase of shareholder power as capitalisms main. There is, he thinks, a moral illegitimacy to virtually any accumulation of wealth, and it is a matter of justice that such inequality be eradicated in our economy. Thomas Pikettys Capital in the Twenty-First Century blended history. Skip advert That may sound like an obvious point to you. But he does not like how it allocates income. Indeed, Piketty argues that it is a feature of capitalism itself unless governments take action to rein in capitalism's excesses. Economists already knew and admired Piketty’s scholarly.

Thomas Piketty likes capitalism because it efficiently allocates resources. Seven years ago the French economist Thomas Piketty released Capital in the Twenty-First Century, a magnum opus on income inequality.

Thomas piketty capitalism