Understanding Piketty's Capital in The Twenty First Century

In this volume, the authors reflect on the question “what is socialism” as it pertains to today’s economy. There is particular emphasis on democratic socialism models as a potential alternative to classic authoritarian socialism. A number of topical questions are addressed such as: What is democratic socialism and is it feasible, or even viable? What can be learnt from existing democratic socialist experiences? What would an ideal democratic socialist society look like today?

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.

The problems of capitalism have been studied from Karl Marx to Thomas Piketty. The latter has recently confirmed that the system of capital is deeply bound up in ever-growing inequality without challenging the continuance of that system.