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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This somber prediction proved wrong: land rents did remain high for an extended
period, but in the end the value of farm land inexorably declined relative to other
forms of wealth as the share of agriculture in national income decreased.
This long phase of wage stagnation, which we observe in Britain as well as
France, stands out all the more because economic growth was accelerating in
this period. The capital share of national income—industrial profits, land rents, ...
In addition, the high growth rates observed in all the developed countries in the
post–World War II period were a phenomenon of great significance, as was the
still more significant fact that all social groups shared in the fruits of growth.
Moreover, in some cases (especially Britain and France) it is possible to collect
and compare estimates for different periods and thus push the analysis back to
the early eighteenth century, which allows us to view the Industrial Revolution in
It then fell sharply in response to the shocks of the period 1914–1945: the capital/
income ratio decreased to just 2 or 3. We then observe a steady rise from 1950
on, a rise so sharp that private fortunes in the early twenty-first century seem to be
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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