Beyond Property or Beyond Piketty?

Abstract

Capital and Ideology represents a significant further statement from Thomas Piketty. The arguments made by the “New Piketty” are largely compatible with those of his previous Capital in the Twenty-First Century, but reflect broadening of scope and deepening of causal analysis, most markedly through the adoption of a world historical perspective. The result is a fuller offering for understanding inequality’s pattern in the world, why it exists and how we can best respond to it. The book presents a wide range of arguments, which do not on first glance appear unified. This review essay distills these into six propositions, describes and evaluates each in turn, and identifies some threads that link them. In the process, it provides a critical assessment of Capital and Ideology.

Keywords: Inequality, Economic History, Political Economy, Capitalism

JEL Classification: D30, D31, D63, J54, NOO, P14, P48