Today i'm sharing a new book: Thomas Piketty " CAPITAL IN THE 21st Century"
There’s been a bizarre phenomenon this year: a young, little-known French economist has written a 700-page tome about economic inequality – dense with data, historical examples from France, and a few literary references to Jane Austen.
That’s not the strange part. This is: it’s a bestseller.
Somehow, Capital in the Twenty-First Century by Thomas Piketty has become a conversation piece among well-read people. Its graphic red-and-ivory cover is inescapable. Early in its launch, it hit No 1 on Amazon’s bestseller list and the paper version – a doorstop in punishing, heavy hardcover – sold out in major bookstores.
It's ambitious because Piketty sets out to tell a high-level history of the global economy and to outline a fresh theory of where we are heading. It’s the sort of grand intellectual enterprise that was common in the 19th century, but has become a rarity in our era of more specialised scholarship. But Capital’s also unpretentious because Piketty wants to put economics, his own discipline, back in its place.
What are the grand dynamics that drive the accumulation and distribution of capital? Questions about the long-term evolution of inequality, the concentration of wealth, and the prospects for economic growth lie at the heart of political economy. But satisfactory answers have been hard to find for lack of adequate data and clear guiding theories. In Capital in the Twenty-First Century, Thomas Piketty analyzes a unique collection of data from twenty countries, ranging as far back as the eighteenth century, to uncover key economic and social patterns. His findings will transform debate and set the agenda for the next generation of thought about wealth and inequality.