A Summary and Critique of Thomas Piketty’s Capital in the Twenty First Century – Where We Are, What Is Next, How Piketty is Right and Wrong

by I.K. Mullins

This is not the actual Thomas Piketty’s Capital in the Twenty First Century. The primary objective of this book is to bring insightful discussion and critique of Thomas Piketty’s Capital in the Twenty First Century to readers everywhere. This book includes a critique of Thomas Piketty’s book, as well as the review of the future of economic inequality forecasted by other experts. Do not purchase this book if you are looking for a full copy of Thomas Piketty’s Capital in the Twenty First Century
Income inequality in the United States and in Western Europe has been growing since the 1970s. In the US, the top 1 percent income share has more than doubled in the course of the last thirty years, drawing much public attention. In 2013, the thousand richest individuals in the UK had their wealth increased by 15 percent. At the same time, the UK government enacted a one percent pay freeze on public sector workers, re-enforcing the lengthiest wage squeeze since the 1870s. Modern capitalistic society is an unequal society, and that inequality grows fast due to the rich-get-richer trend. In his book, Piketty argues that as long as the rate of return on capital exceeds the rate of growth, the income and wealth of the rich will grow faster than the typical income from work. This trend will continue to support rising economic inequality.
In our critique of Piketty’s Capital in the Twenty-First Century, we will examine issues raised in Piketty’s book, for the benefit of those who wish to read or study Piketty’s book in the future. The critique includes summary and critical analysis of how Piketty’s book treats a theory of capitalism and the issue of rising economic inequality.

74 pages, Kindle Edition

First published November 24, 2014

Reviews

[Lindsey · Rating 5 out of 5]

I don’t really have to study Piketty’s Capital to realize that the inequality is growing. For anyone who was not born with a silver spoon in the mouth, the growing income disparity is a fact of life. Piketty’s theory attempts to describe natural economic evolution under capitalism. In my opinion, there is nothing ‘natural’ about the growth of economic inequality. While middle-class workers get their college degrees, go to work day after day, and pray not to get sick (serious illness is one sure way to bankruptcy for the majority people living in the most advanced and civilized country of the world), the rich keep themselves busy scheming to control all the wealth.

This Critique of Piketty’s Capital nicely outlines the empirical evidence for Piketty’s ideas, as well as his theory’s main points before it gets into critical analysis. Then, it offers more. In this Critique, I found some interesting data about the ‘unnatural” processes that make the riches richer. Inflation, debt pyramids, the myth of free-market capitalism, etc. I definitely recommend to anyone this interesting, sometimes controversial and definitely thought-provoking read.

[SERGIO SARITA · Rating 5 out of 5]

Useful commentaries adequate for general reader

Well synthesized and explained issue. Highlighted main items increase the comprehension of the subject.
Highly recommended for anyone interested in understanding economy and politic

[Phil Toop · Rating 1 out of 5]

What a waste of space. A 10,000 word 'critique' of a 300,000 word book, no referencing of the claims made and generally very lame.
Looks more like the author trying to cash in on the book it is allegedly 'critiquing'.

[Kathy Brown · Rating 4 out of 5]

Thought provoking

There were so many ideas in this book that support things that I have believed to be true but had been unable to articulate. I like the way it is written.