Capital book by thomas piketty5/29/2023 ![]() ![]() ![]() ![]() Critics of Piketty’s book abound in all parts of the political spectrum, but it cannot be denied that Capital in the Twenty-First Century symbolized an emerging ethos in the wake of the 2008 financial crisis. Increasing inequality is thus part of the very nature of capitalism, Piketty observed, and can only be checked through various kinds of state intervention. The rate of return on inherited wealth in an economy, he argued, will always grow faster than the income one earns through compensated labor. ![]() It did so by playing a major role in offering a specific explanation for growing inequality, supported by an incredible amount of historical and statistical evidence going back to the 18th century in France, the United States, Britain, and Germany. Thomas Piketty’s voluminous 2013 book, Capital in the Twenty-First Century, created a rare academic frenzy in this country and beyond. Please subscribe to support our writers and staff, and stay healthy. For that reason, this article, and all of our coronavirus coverage, is now free. EDITOR’S NOTE: The Nation believes that helping readers stay informed about the impact of the coronavirus crisis is a form of public service. ![]()
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