He also makes a powerful case that we’re on the way back to ‘patrimonial capitalism,’ in which the commanding heights of the economy are dominated not just by wealth, but also by inherited wealth, in which birth matters more than effort and talent. Piketty, arguably the world’s leading expert on income and wealth inequality, does more than document the growing concentration of income in the hands of a small economic elite. “It seems safe to say that Capital in the Twenty-First Century, the magnum opus of the French economist Thomas Piketty, will be the most important economics book of the year-and maybe of the decade. “ magnum opus, which kicked off years of debate over the causes of and potential solutions for deep poverty in wealthy societies. “Monumental…one of the most thorough and illuminating studies of capitalist economics since Karl Marx published the original Capital 150 years earlier.
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