Capital in the Twenty-First Century

What are the grand dynamics that drive the accumulation and distribution of capital? Questions about the long-term evolution of inequality, the concentration of wealth, and the prospects for economic growth lie at the heart of political economy. But satisfactory answers have been hard to find for lack of adequate data and clear guiding theories. In Capital in the Twenty-First Century, Thomas Piketty analyzes a unique collection of data from twenty countries, ranging as far back as the eighteenth century, to uncover key economic and social patterns. His findings will transform debate and set the agenda for the next generation of thought about wealth and inequality.

Piketty shows that modern economic growth and the diffusion of knowledge have allowed us to avoid inequalities on the apocalyptic scale predicted by Karl Marx. But we have not modified the deep structures of capital and inequality as much as we thought in the optimistic decades following World War II. The main driver of inequality--the tendency of returns on capital to exceed the rate of economic growth--today threatens to generate extreme inequalities that stir discontent and undermine democratic values. But economic trends are not acts of God. Political action has curbed dangerous inequalities in the past, Piketty says, and may do so again.

A work of extraordinary ambition, originality, and rigor, Capital in the Twenty-First Century reorients our understanding of economic history and confronts us with sobering lessons for today.

The famous books overnight, no one thought of the dream.

This book analyzes the cause of inequality of economic community members, as capitalism is interesting. By ourselves, not maksit.

If to compare it quickly with this book's classic book, this book is one of the closest named example intended as "Das Kapital" of Carl Marx would be surprised.

"Das Kapital", first published in German in 1867 sold another 20 years 5 books in 1000 years later, it has been translated into English. In the year 1907, people in England would also not recognize the language of the book, but written in France and Piketty when translated into the English market in March 2014, it is incredible in the United States, is the best selling book that Amazon's hardcover books, until the market is missing for many months.

Why this book is extremely interested in part because placed on markets that people are interested in inequality is fit. Especially in the United States who see each other for a long time that the rich poor gap is just only the Europeans engaged in.

The economic crisis in the United States in the year 2008 makes it evident that without good governance and the rich in the financial sector, it has the behavior and how much rich compared to middle-class people who worked hard and most people of the country. To see the differences in levels of wealth and distribution. The prosperity of the cause as an issue in American society today.

Once the letter of intent, which burn Piketty General math equations, without reading or have read baekkradai text. It was the Americans ' determination amid a shortage of people who believe in capitalism with Government to intervene as necessary, or as they called right Division in American society.

Thomas Piketty is France. Current age 43 years, he graduated with a doctoral degree at the age of just 22 years old with a dissertation about wealth distribution by education at the EHESS (Ecole des hautes etudes en sciences sociales) and LSE (London School of Economics and Political Science) at the end of the year, MIT 2. teach and back to researchers at EHESS Paris, his School Director of Economics that he tried to established.

At all times he study economics of inequality (Inequality of Economics) to become the world's experts on this subject in this book writing books Piketty is volume, making him the world overnight.

"Capital in Twenty-First Century," create hueha, because in the first. He used statistics that indicate inequality across a period of 300 years of many countries in Europe and the United States have analyzed the fact that surprisingly many, such as, for example, that during the period 1914-1, 1970 in the United States worth wealth and inequality of incomes of the population lessened, but since the 1970s the gap was increased until the late 19th century, almost as.

Example 2 the heritage value is passed on each year in France together with value equal to 5 percent of GDP in the past decade, but the current value of 1950 increased 3 times, which is not different from the 19th century that this figure as high as 25 percent.

Two examples of this are part of the evidence that shows that capitalism is to make the rich and the poor as well as different economic sectors more not to interfere. This difference is significant, the inequality of educational opportunity, and the opportunity to earn revenues.

Piketty, a description that the free market system, or sometimes called capitalism. There are trends, by nature to increase assets and income of the rich plain speaking, it is capitalism that has led to the saphaokan that the rich are rich.

Listen to the show is plain. Anyone feel but no one proves as clear a description of this book comes from an analysis of data of several countries across time, up to 300 years.

Economic growth implies an increase of the value of production or total income of the members of the economic system, so the rate of high economic growth, it means that people in general have to have higher earnings.

In the capitalist system. Rich people have an important income comes from investments, property, and capital that has accumulated. If there is a rate of return of capital, higher performing, more rich, because it returns processing costs and accrued income is became more advanced and more as cumulative.

The actual data in the study of the history of Piketty and found that in the capitalist economy. Return on assets and equity is higher than the growth rate of the economy is always noticeably several times. And this is the reason why the rich so rich as.

A slow-growing economy means there is a low GDP growth rate. Common people's income increased slowly. But if the rate of return of the assets and higher costs. It means that the owners of capital assets and capital, that are: the rich will receive higher compensation. If this situation continues, and much higher than many other times, it means that the rich are rich. The proportion of investment income will be even greater expansion the proportion of income that comes from the labor time.

The description of the Piketty, Americans understand more clearly why the rich 10 percent ownership of the combined 70 percent of the country's total wealth (half of all these wealth most rich people owning 1 percent), compared with 65 percent in the year 1950.

We do not have the same education as profound. Piketty, the author assures that if a study on depth may be found more scary truth. Just a cursory look at the current mother home alone one currency can be both the owner of the airline. Land and property in Thai and neighboring countries and a large number of other franchises.