The world's leading economist of inequality presents a short but sweeping and surprisingly optimistic history of human progress toward equality despite crises, disasters, and backsliding. A perfect introduction to the ideas developed in his monumental earlier books. It's easy to be pessimistic about inequality. We know it has increased dramatically in many parts of the world over the past two generations. No one has done more to reveal the problem than Thomas Piketty. Now, in this surprising and powerful new work, Piketty reminds us that the grand sweep of history gives us reasons to be optimistic. Over the centuries, he shows, we have been moving toward greater equality. Piketty guides us with elegance and concision through the great movements that have made the modern world for better and worse: the growth of capitalism, revolutions, imperialism, slavery, wars, and the building of the welfare state. It's a history of violence and social struggle, punctuated by regression and disaster. But through it all, Piketty shows, human societies have moved fitfully toward a more just distribution of income and assets, a reduction of racial and gender inequalities, and greater access to health care, education, and the rights of citizenship. Our rough march forward is political and ideological, an endless fight against injustice. To keep moving, Piketty argues, we need to learn and commit to what works, to institutional, legal, social, fiscal, and educational systems that can make equality a lasting reality. At the same time, we need to resist historical amnesia and the temptations of cultural separatism and intellectual compartmentalization. At stake is the quality of life for billions of people. We know we can do better, Piketty concludes. The past shows us how. The future is up to us.
Author
Thomas Piketty (French: [tɔma pikɛti]; born May 7, 1971) is a French economist who works on wealth and income inequality. He is the director of studies at the École des hautes études en sciences sociales (EHESS) and professor at the Paris School of Economics. He is the author of the best selling book Capital in the Twenty-First Century (2013), which emphasizes the themes of his work on wealth concentrations and distribution over the past 250 years. The book argues that the rate of capital return in developed countries is persistently greater than the rate of economic growth, and that this will cause wealth inequality to increase in the future. To address this problem, he proposes redistribution through a global tax on wealth. Piketty was born on May 7, 1971, in the Parisian suburb of Clichy. He gained a C-stream (scientific) Baccalauréat, and after taking scientific preparatory classes, he entered the École Normale Supérieure (ENS) at the age of 18, where he studied mathematics and economics. At the age of 22, Piketty was awarded his Ph.D. for a thesis on wealth redistribution, which he wrote at the EHESS and the London School of Economics under Roger Guesnerie. After earning his PhD, 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, and according to a list dated November 11, 2003, he is a member of the scientific orientation board of the association "À gauche, en Europe", founded by Michel Rocard and Dominique Strauss-Kahn. In 2006 Piketty 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. Piketty resumed teaching at the Paris School of Economics in 2007. He is a columnist for the French newspaper Libération, and occasionally writes op-eds for Le Monde. In April 2012, Piketty co-authored along with 42 colleagues an open letter in support of then-PS candidate for the French presidency François Hollande. Hollande won the contest against the incumbent Nicolas Sarkozy in May of that year. In 2013, Piketty won the biennial Yrjö Jahnsson Award, for the economist under age 45 who has "made a contribution in theoretical and applied research that is significant to the study of economics in Europe." Piketty specializes in economic inequality, taking a historic and statistical approach. His work looks at the rate of capital accumulation in relation to economic growth over a two hundred year spread from the nineteenth century to the present. His novel use of tax records enabled him to gather data on the very top economic elite, who had previously been understudied, and to ascertain their rate of accumulation of wealth and how this compared to the rest of society and economy. His most recent book, Capital in the Twenty-First Century, relies on economic data going back 250 years to show that an ever-rising concentration of wealth is not self-correcting. To address this problem, he proposes redistribution through a global tax on wealth.
