000			03107cam a2200289 i 4500
001			c26476
003			ISI Library, Kolkata
005			20250321020018.0
008			130923s2014 mau b 001 0 eng
020			_a9780674430006 (alk. paper)
040			_aISI Library _beng
082	0	4	_a332.041 _223 _bP636
100	1		_aPiketty, Thomas.
245	1	0	_aCapital in the twenty-first century / _cThomas Piketty.
260			_aCambridge : _bBelknap Press of Harvard University Press, _c2014.
300			_aviii, 685 p. : _billustrations ; _c25 cm.
500			_aTranslated by Arthur Goldhammer.
504			_aIncludes bibliographical references and index.
505	0		_aPart I. Income and capital. Income and output ; Growth : illusions and realities -- Part II. The dynamics of the capital/income ratio. The metamorphoses of capital ; From old Europe to the new world ; The capital/income ratio over the long run ; The capital-labor split in the twenty-first century -- Part III. The structure of inequality. Inequality and concentration : preliminary bearings ; Two worlds ; Inequality of labor income ; Inequality of capital ownership ; Merit and inheritance in the long run ; Global inequality of wealth in the twenty-first century -- Part IV. Regulating capital in the twenty-first century. A social state for the twenty-first century ; Rethinking the progressive income tax ; A global tax on capital ; The question of the public debt.
520			_aWhat 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 this work the author 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 transform debate and set the agenda for the next generation of thought about wealth and inequality. He 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 if political action is not taken. But economic trends are not acts of God. Political action has curbed dangerous inequalities in the past, the author says, and may do so again. This original work reorients our understanding of economic history and confronts us with sobering lessons for today.
650		0	_aCapital.
650		0	_aIncome distribution.
650		0	_aWealth.
700	1		_aGoldhammer, Arthur, _etranslator.
942			_2ddc _cBK _02
999			_c420161 _d420161