Thomas Piketty, Capitalism and Distribution

What is it about?

This essay reviews Thomas Piketty’s Capital in the Twenty-First Century (2014). The focus is upon the conceptual framework and theoretical interpretation of the empirical findings assembled in the book, rather than those empirical findings themselves. The core theoretical logic of the distributional dynamics is explained and subjected to scrutiny with respect to the theory of distribution in particular, but also the theory of growth.

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Why is it important?

It provides a theoretical perspective on Piketty's contribution, from the standpoint of classical economics and Keynes.

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