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Author: Thomas Piketty Publisher: Harvard University Press ISBN: 0674979850 Category : Business & Economics Languages : en Pages : 817
Book Description
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 this work the author 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 transform debate and set the agenda for the next generation of thought about wealth and inequality. He shows that modern economic growth and the diffusion of knowledge have allowed us to avoid inequalities on the apocalyptic scale predicted by Karl Marx. But we have not modified the deep structures of capital and inequality as much as we thought in the optimistic decades following World War II. The main driver of inequality--the tendency of returns on capital to exceed the rate of economic growth--today threatens to generate extreme inequalities that stir discontent and undermine democratic values if political action is not taken. But economic trends are not acts of God. Political action has curbed dangerous inequalities in the past, the author says, and may do so again. This original work reorients our understanding of economic history and confronts us with sobering lessons for today.
Author: Thomas Piketty Publisher: Harvard University Press ISBN: 0674979850 Category : Business & Economics Languages : en Pages : 817
Book Description
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 this work the author 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 transform debate and set the agenda for the next generation of thought about wealth and inequality. He shows that modern economic growth and the diffusion of knowledge have allowed us to avoid inequalities on the apocalyptic scale predicted by Karl Marx. But we have not modified the deep structures of capital and inequality as much as we thought in the optimistic decades following World War II. The main driver of inequality--the tendency of returns on capital to exceed the rate of economic growth--today threatens to generate extreme inequalities that stir discontent and undermine democratic values if political action is not taken. But economic trends are not acts of God. Political action has curbed dangerous inequalities in the past, the author says, and may do so again. This original work reorients our understanding of economic history and confronts us with sobering lessons for today.
Author: Branko Milanovic Publisher: ISBN: Category : Languages : en Pages : 22
Book Description
The paper provides a detailed review of Thomas Piketty's book "Capital in the 21st century." It focuses on the new contributions of the book, and in particular on its unified treatment of economic growth, functional income distribution, and concentration of personal income. It concludes that Piketty's reinvigoration of classical and empircally-drven approach is likely to have a profound impact on economics.
Author: Branko Milanović Publisher: ISBN: Category : Economic development Languages : en Pages : 22
Book Description
The paper provides a detailed review of Thomas Piketty's book "Capital in the 21st century." It focuses on the new contributions of the book, and in particular on its unified treatment of economic growth, functional income distribution, and concentration of personal income. It concludes that Piketty's reinvigoration of classical and empircally-drven approach is likely to have a profound impact on economics.
Author: Branko Milanović Publisher: ISBN: Category : Economic development Languages : en Pages : 22
Book Description
The paper provides a detailed review of Thomas Piketty's book "Capital in the 21st century." It focuses on the new contributions of the book, and in particular on its unified treatment of economic growth, functional income distribution, and concentration of personal income. It concludes that Piketty's reinvigoration of classical and empircally-drven approach is likely to have a profound impact on economics.
Author: Thomas Piketty Publisher: Harvard University Press ISBN: 0674245083 Category : Business & Economics Languages : en Pages : 1105
Book Description
A New York Times Bestseller An NPR Best Book of the Year The epic successor to one of the most important books of the century: at once a retelling of global history, a scathing critique of contemporary politics, and a bold proposal for a new and fairer economic system. Thomas Piketty’s bestselling Capital in the Twenty-First Century galvanized global debate about inequality. In this audacious follow-up, Piketty challenges us to revolutionize how we think about politics, ideology, and history. He exposes the ideas that have sustained inequality for the past millennium, reveals why the shallow politics of right and left are failing us today, and outlines the structure of a fairer economic system. Our economy, Piketty observes, is not a natural fact. Markets, profits, and capital are all historical constructs that depend on choices. Piketty explores the material and ideological interactions of conflicting social groups that have given us slavery, serfdom, colonialism, communism, and hypercapitalism, shaping the lives of billions. He concludes that the great driver of human progress over the centuries has been the struggle for equality and education and not, as often argued, the assertion of property rights or the pursuit of stability. The new era of extreme inequality that has derailed that progress since the 1980s, he shows, is partly a reaction against communism, but it is also the fruit of ignorance, intellectual specialization, and our drift toward the dead-end politics of identity. Once we understand this, we can begin to envision a more balanced approach to economics and politics. Piketty argues for a new “participatory” socialism, a system founded on an ideology of equality, social property, education, and the sharing of knowledge and power. Capital and Ideology is destined to be one of the indispensable books of our time, a work that will not only help us understand the world, but that will change it.
Author: A. B. Atkinson Publisher: OUP Oxford ISBN: 0191500887 Category : Business & Economics Languages : en Pages : 984
Book Description
A rapidly growing area of economic research investigates the top of the income distribution using data from income tax records. This volume brings together studies of top incomes for twelve countries from around the world, including China, India, Japan, Argentina and Indonesia. Together with the first volume, published in 2007, the studies cover twenty two countries. They have a long time span, the earliest data relating to 1875 (for Norway), allowing recent developments to be placed in historical perspective. The volume describes in detail the source data and the methods employed. It will be an invaluable reference source for researchers in the field. Individual country chapters deal with the specific nature of the data for each of the countries, and describe the long-term evolution of top income shares. In the countries as a whole, dramatic changes have taken place at the top of the income distribution. Over the first part of the century, top income shares fell markedly. This largely took the form of a reduction in capital incomes. The different authors examine the impact of the First and Second World Wars, contrasting countries that were and were not engaged. They consider the impact of depressions and banking crises, and pay particular attention to the impact of progressive taxation. In the last 30 years, the shares of top incomes have increased markedly in the US and other Anglo-Saxon countries, reflecting the increased dispersion of earnings. The volume includes statistics on the much-discussed top pay and bonuses, providing a global perspective that discusses important differences between countries such as the lesser increase in Continental Europe. This book, together with volume 1, documents this interesting development and explores the underlying causes. The findings are brought together in a final summary chapter by Atkinson, Piketty and Saez.
Author: Thomas Piketty Publisher: Harvard University Press ISBN: 0674504801 Category : Business & Economics Languages : en Pages : 153
Book Description
Succinct, accessible, and authoritative, Thomas Piketty’s The Economics of Inequality is the ideal place to start for those who want to understand the fundamental issues at the heart of one the most pressing concerns in contemporary economics and politics. This work now appears in English for the first time.
Author: Geoff Bertram Publisher: Bridget Williams Books ISBN: 192727771X Category : Business & Economics Languages : en Pages : 105
Book Description
Few books have had the global impact of Thomas Piketty’s Capital in the Twenty-First Century. An overnight bestseller, Piketty’s assessment that inherited wealth will always grow faster, on average, than earned wealth has energised debate. Hailed as ‘bigger than Marx’ (The Economist) or dismissed as ‘medieval’ (Wall Street Journal), the book is widely acknowledged as having significant economic and political implications. Collected in this BWB Text are responses to this phenomenon from a diverse range of New Zealand economists and commentators. These voices speak independently to the relevance of Piketty’s conclusions. Is New Zealand faced with a one-way future of rising inequality? Does redistribution need to focus more on wealth, rather than just income? Was the post-war Great Convergence merely an aberration and is our society doomed to regress into a new Gilded Age?
Author: Branko Milanovi? Publisher: World Bank Publications ISBN: Category : Economic history Languages : en Pages : 88
Book Description
Is inequality largely the result of the Industrial Revolution? Or, were pre-industrial incomes and life expectancies as unequal as they are today? For want of sufficient data, these questions have not yet been answered. This paper infers inequality for 14 ancient, pre-industrial societies using what are known as social tables, stretching from the Roman Empire 14 AD, to Byzantium in 1000, to England in 1688, to Nueva Espąa around 1790, to China in 1880 and to British India in 1947. It applies two new concepts in making those assessments -- what we call the inequality possibility frontier and the inequality extraction ratio. Rather than simply offering measures of actual inequality, we compare the latter with the maximum feasible inequality (or surplus) that could have been extracted by the elite. The results, especially when compared with modern poor countries, give new insights in to the connection between inequality and economic development in the very long run.
Author: Sanford F. Schram Publisher: Oxford University Press ISBN: 0190253037 Category : Political Science Languages : en Pages : 265
Book Description
As Frances Fox Piven and Richard Cloward argued in the early seventies, in a capitalist economy, social welfare policies alternatingly serve political and economic ends as circumstances dictate. In moments of political stability, governments emphasize a capitalistic work ethic (even if it means working a job that will leave one impoverished); when times are less politically stable, states liberalize welfare policies to recreate the conditions for political acquiescence. Sanford Schram argues in this new book that each shift produces its own path dependency even as it represents yet another iteration of what he (somewhat ironically) calls "ordinary capitalism," where the changes in market logic inevitably produce changes in the structure of the state. In today's ordinary capitalism, neoliberalism is the prevailing political-economic logic that has contributed significantly to unprecedented levels of inequality in an already unequal society. As the new normal, neoliberalism has marketization of the state as a core feature, heightening the role of economic actors, especially financiers, in shaping public policy. The results include increased economic precarity among the general population, giving rise to dramatic political responses on both the Left and the Right (Occupy Wall Street and the Tea Party in particular). Schram examines neoliberalism's constraints on politics as well as social and economic policy and gives special attention to the role protest politics plays in keeping alive the possibilities for ordinary people to exercise political agency. The Return of Ordinary Capitalism concludes with political strategies for working through--rather than around--neoliberalism via a radical, rather than status-quo-reinforcing, incrementalism.
Author: Thomas Piketty
Author: Thomas Piketty
Author: Branko Milanovic
Author: Branko Milanović
Author: Branko Milanović
Author: Thomas Piketty
Author: A. B. Atkinson
Author: Thomas Piketty
Author: Geoff Bertram
Author: Branko Milanovi?
Author: Sanford F. Schram