Capital in the twenty-first century
- Thomas Piketty
- Harvard University Press, 2014
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By analyzing a unique collection of data from twenty countries, ranging as far back as the eighteenth century, the author uncovers key economic and social patterns and shows that modern economic growth and the diffusion of knowledge have allowed us to avoid inequalities. He argues, however, that the tendency of returns on capital to exceed the rate of economic growth will generate extreme inequalities that stir discontent and undermine democratic values if political action is not taken.