Thursday, 6 March 2014

Reading Capital: Introduction

Last year Thomas Piketty, an economist at the Paris School of Economics and a renowned expert on global inequality, published a book titled "Capital in the Twenty-first Century"—in French. It will be released in English on March 10th. We reviewed the book earlier this year, but it is detailed and important enough, in our opinion, to deserve additional discussion. We will therefore be publishing a series of posts over the next few weeks—live-blogging the book, as it were—to draw out its arguments at slightly greater length. Last week, we began with the first half of the Introduction.

In the first half of Capital's introduction, Thomas Piketty lays out the intellectual background for the work. In the second he shares the main results of the book. The first is that levels of inequality represent the result of political choices, rather than deterministic technological or economic outcomes (a point reinforced by recent IMF research). Whether or not structural economic shifts generate rising or...Continue reading

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