Recommended by Dylan Mortimore
Widely regarded as the greatest work of French economist Thomas Piketty, Capital in the 21st Century will give you the tools to impress lecturers with the sheer breadth and depth of your economic knowledge – or it might make you a tad confused (which is certainly what I experienced when starting the book). Nevertheless, with some persistence, reading becomes easier. Piketty characterises inequality (of wealth and income) as an inherent consequence of capitalism, with the returns earned by capital holders exceeding the rate of economic growth as nations develop (r>g). The author then goes on to suggest the implementation of global progressive wealth taxes as a means to combat said inequality. While the book was incredibly successful and seen to be of significant value to the field, some critics felt that it failed to address the ‘normative’ side of economics by focusing on the sources of inequality without truly exploring why it is a problem.
Full Book Details
Capital in the Twenty-First Century
Harvard University Press