May 19th 2018


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Articles from this issue:

COVER STORY The real cost of institutionalised child care

EDITORIAL AGL dismisses $250m bid for Liddell Power Station

GENDER POLITICS As Queensland transgenders birth certificates, 300 women quit UK Labour Party

CANBERRA OBSERVED No pressure on Malcolm to call election this year

NATIONAL AFFAIRS Can Greens regenerate, or are they mulch?

POLITICS Conservative shift in the Victorian Liberal Party

OPINION No fairytale ending from the Land of a Fair Go

LAW REFORM The Nordic Model: proven to curtail sex trafficking

NATIONAL AFFAIRS Committal hearing dismisses main serious charges against Cardinal Pell

GENDER AND ETHICS Transgenderism and the dissolution of identity

PHILOSOPHY The supercharged cheetah

INTERNATIONAL AFFAIRS One Belt, One Road: China's new empire

HUMOUR

MUSIC Business as usual: The sweet tinkle of falling coins

CINEMA Avengers: Last Flag Flying and Infinity War

BOOK REVIEW A hungry beast that ate up 4 million lives

BOOK REVIEW Skewed analysis of republic in crisis

POETRY

LETTERS

CANBERRA OBSERVED Bill Shorten's Budget-Reply speech: for what ails you

FOREIGN AFFAIRS Behind the U.S.-North Korea rapprochement

Books promotion page

CAPITAL IN THE TWENTY-FIRST CENTURY

Thomas Piketty

$79.90


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Translated by Arthur Goldhammer

(Belknap/Harvard University Press, 2014)
Hardcover: 696 pages
ISBN: 9780674430006
Price: AUD$79.90

 

Book description

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 analyses a unique collection of data from twenty countries, ranging as far back as the 18th 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.

Piketty 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. But economic trends are not acts of God. Political action has curbed dangerous inequalities in the past, Piketty says, and may do so again.

A work of extraordinary ambition, originality, and rigor, Capital in the Twenty-First Century reorients our understanding of economic history and confronts us with sobering lessons for today.

 

About the author

Thomas Piketty, PhD, is a French economist who works on wealth and income inequality. He is the director of studies at France’s École des hautes études en sciences sociales (EHESS) — the School for Advanced Studies in Social Sciences — and professor at the Paris School of Economics.

After being awarded his PhD at the age of 22, Piketty taught from 1993 to 1995 as an assistant professor in the Department of Economics at the Massachusetts Institute of Technology. In 1995, he joined the French National Centre for Scientific Research (CNRS) as a researcher, and in 2000 he became director of studies at EHESS.

Piketty won the 2002 prize for the best young economist in France. In 2006 he became the first head of the Paris School of Economics, which he helped set up. He left after a few months to serve as an economic advisor to Socialist Party candidate Ségolène Royal during the French presidential campaign.

In April 2012, Piketty co-authored along with 42 colleagues an open letter in support of then-Socialist Party candidate for the French presidency François Hollande. Hollande won the contest against the incumbent Nicolas Sarkozy in May of that year. 


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