Capital in the Twenty-First CenturyThe main driver of inequality--returns on capital that exceed the rate of economic growth--is again threatening to generate extreme discontent and undermine democratic values. Thomas Piketty's findings in this ambitious, original, rigorous work will transform debate and set the agenda for the next generation of thought about wealth and inequality. |
Contents
Introduction | |
Income and Capital | |
Income and Output | |
Illusions and Realities | |
The Dynamics of the CapitalIncome Ratio | |
The Metamorphoses of Capital | |
From Old Europe to the New World | |
Inequality of Labor Income | |
Inequality of Capital Ownership | |
Merit and Inheritance in the Long | |
Global Inequality of Wealth in the TwentyFirst Century | |
Regulating Capital in the TwentyFirst Century | |
A Social State for the TwentyFirst Century | |
Rethinking the Progressive Income | |
A Global Tax on Capital | |
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Common terms and phrases
50 percent accounts accumulation Ancien Régime annual Belle Époque Britain capital income capital/income ratio decades decrease distribution of wealth economic economists eighteenth especially estimates Europe European euros Eurozone evolution example fact Figure financial assets foreign assets fortunes France French Germany growth rate historical important income from capital income from labor income inequality income tax increase individuals inegalitarian inequality of wealth inflation inheritance flow inherited wealth investment less long run million euros national capital national income nineteenth century online technical appendix PAYGO percent of national period piketty.pse.ens.fr/capital21c political population private capital private wealth progressive tax public debt rate of return real estate rent rentiers return on capital rich countries role social society Sources and series sovereign wealth funds tax havens tax on capital Thomas Piketty top centile top decile total wealth twentieth century twenty-first century United wage inequality