Piketty was born on May 7, 1971, in the Parisian suburb of Clichy. To address this problem, he proposes redistribution through a global tax on wealth. 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. 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. He is the director of studies at the École des hautes études en sciences sociales (EHESS) and professor at the Paris School of Economics. Thomas Piketty (French: born May 7, 1971) is a French economist who works on wealth and income inequality. Political action has curbed dangerous inequalities in the past, Piketty says, and may do so again. 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 we have not modified the deep structures of capital and inequality as much as we thought in the optimistic decades following World War II. 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. His findings will transform debate and set the agenda for the next generation of thought about wealth and inequality.
In Capital in the Twenty-First Century, Thomas Piketty analyzes a unique collection of data from twenty countries, ranging as far back as the eighteenth century, to uncover key economic and social patterns. But satisfactory answers have been hard to find for lack of adequate data and clear guiding theories. 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.
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