Cover: Capital in the Twenty-First Century, from Harvard University PressCover: Capital in the Twenty-First Century in PAPERBACK

Capital in the Twenty-First Century

Read an excerpt from the Introduction »

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.

Also Available As

Jacket: Capital in the Twenty-First Century

HARDCOVER | $39.95

ISBN 9780674430006

Trade

Awards & Accolades

  • A New York Times #1 Best Seller
  • A Boston Globe Best Seller • A Chicago Tribune Best Seller • A Los Angeles Times #1 Best Seller • An NPR Best Seller • A San Francisco Chronicle #1 Best Seller • A Sunday Times Best Seller • A USA Today Best Seller

Recent News

From Our Blog

Jacket: The Number of the Heavens: A History of the Multiverse and the Quest to Understand the Cosmos, by Tom Siegfried, from Harvard University Press

Q&A with Tom Siegfried, author of The Number of the Heavens: A History of the Multiverse and the Quest to Understand the Cosmos

In The Number of the Heavens, Tom Siegfried, the award-winning former editor of Science News, shows that one of the most fascinating and controversial ideas in contemporary cosmology—the existence of multiple parallel universes—has a long and divisive history that continues to this day. We spoke to him about the possible existence of a multiverse and the co

‘manifold glories of classical Greek and Latin’

The digital Loeb Classical Library (loebclassics.com) extends the founding mission of James Loeb with an interconnected, fully searchable, perpetually growing virtual library of all that is important in Greek and Latin literature.