Piketty's Capital in the 21st Century

5 Pages Posted: 7 Dec 2014

See all articles by Fred Thompson

Fred Thompson

Willamette University - Atkinson Graduate School of Management

Date Written: December 5, 2014

Abstract

In this review I focus on the second part of the book, which describes the ebb and flow of inequality in the 20th Century and tries to explain its decline in the period between 1910 and 1970, the so-called great compression, and its subsequent recovery. Most reviewers have attended to the first, which outlines the basic dynamics of the distribution of income and wealth; I have nothing to add to what has been said. As for the third part, which lays out an assortment of policy prescriptions intended to reduce or forestall increased inequality, it is just not as profound as the rest of the book. In contrast, part two is both intriguing and challenging and hasn’t really gotten the attention it deserves.

Keywords: Piketty, income, wealth, managerial capitalism, Fordism

JEL Classification: N00, P16, J38, M52

Suggested Citation

Thompson, Fred, Piketty's Capital in the 21st Century (December 5, 2014). Available at SSRN: https://ssrn.com/abstract=2534650

Fred Thompson (Contact Author)

Willamette University - Atkinson Graduate School of Management ( email )

900 State Street
Salem, OR 97301
United States
503-370-6228 (Phone)
503-370-3011 (Fax)

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