The Return of "Patrimonial Capitalism" : Review of Thomas Piketty's Capital in the 21st Century
The paper provides a detailed review of Thomas Piketty's book "Capital in the 21st century." It focuses on the new contributions of the book, and in particular on its unified treatment of economic growth, functional income distribution, and concentration of personal income. It concludes that Piketty's reinvigoration of classical and empircally-drven approach is likely to have a profound impact on economics.
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Summary: | The paper provides a detailed review of
Thomas Piketty's book "Capital in the 21st
century." It focuses on the new contributions of the
book, and in particular on its unified treatment of economic
growth, functional income distribution, and concentration of
personal income. It concludes that Piketty's
reinvigoration of classical and empircally-drven approach is
likely to have a profound impact on economics. |
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