A work of exceptional erudition, “Capital in the 21st Century”, represents thirteen years of research on global inequality by economist Thomas Piketty. His conclusion: capital tends to reproduce itself at a faster rate than economic growth. This has profound implications for 21st century democracy & social cohesion. In fact, Piketty predicts a return to the patrimonial, inegalitarian world of the 19th century, where inherited wealth and privilege reigned paramount. His solution: a global progressive tax on capital. Throughout Capital, he charmingly brings in literary sources from Jane Austen to Honoré de Balzac to paint a vivid picture of historical inequality.
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P.S. Capital contains a little too many percentage signs, line charts, and Greek alphabet than I normally enjoy in my casual reading. The book’s online movie documentary is more entertaining, not to mention more accessible.