Thomas Piketty, Capital in the 21st Century

Thomas Piketty's Capital in the 21st Century is the most important economics book of the year, if not the decade. It's also 696 pages long, translated from French, filled with methodological asides and in-depth looks at unique data, packed with allusions to 19th century novels, and generally a bit of a slog. The good news is that there's no advanced math, and anyone who puts in the time can read the book. (source infra)

The short guide to Capital in the 21st Century - Vox: "Piketty uses an expansive definition of capital so that it is the same as wealth. All the shares of stock and houses and cash assets that people own constitute capital, or wealth. And wealth is much more unequally distributed than income, so while a division of society into those who own things and those who work for a living is overly simplistic it's not totally off-base. In the United States, for example, 5 percent of households own a majority of the wealth while the bottom 40 percent have negative wealth due to debts."

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