In This Review

Capital in the Twenty-First Century
Capital in the Twenty-First Century
By Thomas Piketty
696 pp, Belknap Press, 2014
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Every now and then, the field of economics produces an important book; this is one of them. Thomas Piketty’s tome will put capitalist wealth back at the center of public debate, resurrect interest in the subject of wealth distribution, and revolutionize how people view the history of income inequality. On top of that, although the book’s prose (translated from the original French) might not qualify as scintillating, any educated person will be able to understand it—which sets the book apart from the vast majority of works by high-level economic theorists.

Piketty is best known for his collaborations during the past decade with his fellow French economist Emmanuel Saez, in which they used historical census data and archival tax records to demonstrate that present levels of income inequality in the United States resemble those of the era before World War II. Their revelations concerning the wealth concentrated among

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  • TYLER COWEN is Professor of Economics at George Mason University and writes for the blog Marginal Revolution. Follow him on Twitter @tylercowen.
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