Capital in the Twenty-First Century
Harvard University Press, 14 ago 2017 - 816 pagine
The main driver of inequality—returns on capital that exceed the rate of economic growth—is again threatening to generate extreme discontent and undermine democratic values. Thomas Piketty’s findings in this ambitious, original, rigorous work will transform debate and set the agenda for the next generation of thought about wealth and inequality.
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Consider first the mechanisms pushing toward convergence, that is, toward
reduction and compression of inequalities. The main forces for convergence are
the diffusion of knowledge and investment in training and skills. The law of supply
It is obvious that lack of adequate investment in training can exclude entire social
groups from the benefits of economic growth. Growth can harm some groups
while benefiting others (witness the recent displacement of workers in the more ...
It saw the invention of the electric light as well as the heyday of the ocean liner (
the Titanic sailed in 1912), the advent of film and radio, and the rise of the
automobile and international investment. Note, for example, that it was not until
Of course, everyone can also understand that if all the company's earnings from
its output went to paying wages and nothing to profits, it would probably be
difficult to attract the capital needed to finance new investments, at least as our ...
The same problem arises in connection with natural resources such as petroleum
, gas, rare earth elements, and the like, whose pure value is hard to distinguish
from the value added by the investments needed to discover new deposits and ...
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Valutazioni degli utenti
LibraryThing ReviewRecensione dell'utente - willszal - LibraryThing
I remember being in a book shop in San Francisco when “Capital in the 21st Century” was first published in 2014. It couldn’t have been more timely, following on the heels of Occupy Wall Street and the ... Leggi recensione completa
LibraryThing ReviewRecensione dell'utente - DLMorrese - LibraryThing
There's a lot of good data here, and some excellent recommendations, but.... Like a lot of economics books, this one is pretty dry. The first 300 pages tend to belabor the obvious, repeating the same ... Leggi recensione completa