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The return of “patrimonial capitalism”: review of Thomas Piketty’s Capital in the 21st century

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  • Milanovic, Branko

Abstract

Thomas Piketty's "Capital in the 21st century" may be one of the most important recent economics books. It jointly treats theory of growth, functional distribution of income, and interpersonal income inequality. It envisages a future of relatively slow growth with the rising share of capital incomes, and widening income inequality. This tendency could be checked only by worldwide taxation of capital.

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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 52384.

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Date of creation: Oct 2013
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Handle: RePEc:pra:mprapa:52384

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Keywords: Income distribution; economic growth; taxation;

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References

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  1. Atkinson, A. B. & Piketty, Thomas (ed.), 2010. "Top Incomes: A Global Perspective," OUP Catalogue, Oxford University Press, Oxford University Press, number 9780199286898, October.
  2. Thomas Piketty, 2011. "On the Long-Run Evolution of Inheritance: France 1820--2050," The Quarterly Journal of Economics, Oxford University Press, vol. 126(3), pages 1071-1131.
  3. Lakner, Christoph & Milanovic, Branko, 2013. "Global income distribution : from the fall of the Berlin Wall to the great recession," Policy Research Working Paper Series 6719, The World Bank.
  4. A. B. Atkinson, 2009. "Factor shares: the principal problem of political economy?," Oxford Review of Economic Policy, Oxford University Press, Oxford University Press, vol. 25(1), pages 3-16, Spring.
  5. Angus Deaton, 2005. "ERRATUM: Measuring Poverty in a Growing World (or Measuring Growth in a Poor World)," The Review of Economics and Statistics, MIT Press, vol. 87(2), pages 395-395, May.
  6. Thomas Piketty & Emmanuel Saez, 2006. "The Evolution of Top Incomes: A Historical and International Perspective," American Economic Review, American Economic Association, American Economic Association, vol. 96(2), pages 200-205, May.
  7. Tony Atkinson, 2002. "Top Incomes in the United Kingdom Over the Twentieth Century," Economics Series Working Papers 2002-W43, University of Oxford, Department of Economics.
  8. Thomas Piketty & Emmanuel Saez, 2003. "Income Inequality In The United States, 1913-1998," The Quarterly Journal of Economics, MIT Press, MIT Press, vol. 118(1), pages 1-39, February.
  9. Thomas Piketty, 2005. "Top Income Shares in the Long Run: An Overview," Journal of the European Economic Association, MIT Press, MIT Press, vol. 3(2-3), pages 382-392, 04/05.
  10. Banerjee, Abhijit & Piketty, Thomas, 2004. "Top Indian Incomes, 1922-2000," CEPR Discussion Papers, C.E.P.R. Discussion Papers 4632, C.E.P.R. Discussion Papers.
  11. Angus Deaton, 2004. "Measuring poverty in a growing world (or measuring growth in a poor world)," Working Papers, Princeton University, Woodrow Wilson School of Public and International Affairs, Research Program in Development Studies. 178, Princeton University, Woodrow Wilson School of Public and International Affairs, Research Program in Development Studies..
  12. Edward N. Wolff & Ajit Zacharias, 2006. "Household Wealth and the Measurement of Economic Well-Being in the United States," Economics Working Paper Archive wp_447, Levy Economics Institute.
  13. Anthony B. Atkinson & Thomas Piketty & Emmanuel Saez, 2009. "Top Incomes in the Long Run of History," NBER Working Papers 15408, National Bureau of Economic Research, Inc.
  14. Thomas Piketty, 2003. "Income Inequality in France, 1901-1998," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 111(5), pages 1004-1042, October.
  15. Peter H. Lindert & Jeffrey G. Williamson, 2012. "American Incomes 1774-1860," NBER Working Papers 18396, National Bureau of Economic Research, Inc.
  16. Goldsmith, Raymond W, 1984. "An Estimate of the Size and Structure of the National Product of the Early Roman Empire," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 30(3), pages 263-88, September.
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Blog mentions

As found by EconAcademics.org, the blog aggregator for Economics research:
  1. Capital and destiny
    by Diane Coyle in The Enlightened Economist on 2014-04-14 14:46:05
  2. Over at the Washington Center for Equitable Growth: The Daily Piketty: Thursday Focus: April 24, 2014
    by J. Bradford DeLong in Grasping Reality with the Invisible Hand on 2014-04-24 14:46:13
  3. The Piketty pessimist
    by Felix Salmon in Felix Salmon on 2014-04-25 20:08:03
  4. Mer läsning om Piketty
    by Daniel Waldenström in Ekonomistas on 2014-04-29 03:21:00

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