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Sunday, April 27, 2014

What's the latest that conservatives are all up in the air and terrified about? "Capital in the Twenty-First Century" by Thomas Piketty, that's what

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I'm in favor of anything that terrifies the right-wingers!
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From Amazon:
Capital in the Twenty-First Century
By Thomas Piketty

"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."
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The Piketty phenomenon
By David Brooks, April 27, 2014

[snipped]
And into this fray wanders Thomas Piketty. His book, “Capital in the Twenty-First Century,” argues that the real driver of inequality is not primarily differences in human capital. It’s differences in financial capital. Inequality is not driven by young hip professionals who arm their kids with every advantage and get them into competitive colleges; it’s driven by hedge fund oligarchs.
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The Piketty panic
By Paul Krugman, April 27, 2014

“Capital in the Twenty-First Century,” the new book by French economist Thomas Piketty, is a bona fide phenomenon. Other books on economics have been best-sellers, but Piketty’s contribution is serious, discourse-changing scholarship in a way most best-sellers aren’t. And conservatives are terrified.
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Welcome to the Piketty revolution: “Capital in the 21st Century” is a game-changer (even if you never read it)

"Capital in the 21st Century" is an unexpected bestseller that could actually change the world

By Sean McElwee, April 27, 2014
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Piketty's 'Capital': A Hit That Was, Wasn't, Then Was Again
How the French tome has rocked the tiny Harvard University Press
By Marc Tracy, April 24, 2014
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