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FAQ:
Q: Is Thomas Piketty right about capitalism?
A: That capitalism is unfair has been said before. But it is the way Thomas Piketty says it – subtly but with relentless logic – that has sent rightwing economics into a frenzy, both here and in the US. His book, Capital in the Twenty-First Century, has shot to the top of the Amazon bestseller list.
Q: What is the difference between Marx and Piketty’s capital?
A: Piketty’s Capital, unlike Marx’s Capital, contains solutions possible on the terrain of capitalism itself: the 15% tax on capital, the 80% tax on high incomes, enforced transparency for all bank transactions, overt use of inflation to redistribute wealth downwards.
Q: What is capital in the twenty-first century about?
A: The radical economist’s book Capital in the Twenty-First Century has angered the right with its powerful argument about wealth, democracy and why capitalism will always create inequality. Not read it yet? Here’s what it means
Q: What is Piketty’s theory of capital and inequality?
A: From this history, Piketty derives a grand theory of capital and inequality. As a general rule wealth grows faster than economic output, he explains, a concept he captures in the expression r > g (where r is the rate of return to wealth and g is the economic growth rate).