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The Return of "Patrimonial Capitalism": A Review of Thomas Piketty's "Capital in the Twenty-First Century"

Capital in the Twenty-First Century by Thomas Piketty provides a unified theory of the functioning of the capitalist economy by linking theories of economic growth and functional and personal income distributions. It argues, based on the long-run historical data series, that the forces of economic d... Full description

Journal Title: Journal of Economic Literature 2014, Vol.52 (2), p.519-534
Main Author: Milanovic, Branko
Format: Electronic Article Electronic Article
Language: English
Subjects:
Publisher: Nashville: American Economic Association
ID: ISSN: 0022-0515
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recordid: cdi_proquest_miscellaneous_1552592533
title: The Return of "Patrimonial Capitalism": A Review of Thomas Piketty's "Capital in the Twenty-First Century"
format: Article
creator:
  • Milanovic, Branko
subjects:
  • 20th century
  • 21st century
  • Book reviews
  • Capital
  • Capital income
  • Capitalism
  • Capitalist economy
  • Economic growth
  • Economic growth rate
  • Economic policy
  • Economics
  • Growth theory
  • history of economic thought
  • Income distribution
  • Income inequality
  • Income shares
  • Income taxes
  • Personal income
  • Piketty, Thomas
  • political economy
  • Portrayals
  • Return on capital
  • Wealth
  • World War I
ispartof: Journal of Economic Literature, 2014, Vol.52 (2), p.519-534
description: Capital in the Twenty-First Century by Thomas Piketty provides a unified theory of the functioning of the capitalist economy by linking theories of economic growth and functional and personal income distributions. It argues, based on the long-run historical data series, that the forces of economic divergence (including rising income inequality) tend to dominate in capitalism. It regards the twentieth century as an exception to this rule and proposes policies that would make capitalism sustainable in the twenty-first century.
language: eng
source:
identifier: ISSN: 0022-0515
fulltext: no_fulltext
issn:
  • 0022-0515
  • 2328-8175
url: Link


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descriptionCapital in the Twenty-First Century by Thomas Piketty provides a unified theory of the functioning of the capitalist economy by linking theories of economic growth and functional and personal income distributions. It argues, based on the long-run historical data series, that the forces of economic divergence (including rising income inequality) tend to dominate in capitalism. It regards the twentieth century as an exception to this rule and proposes policies that would make capitalism sustainable in the twenty-first century.
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subject20th century ; 21st century ; Book reviews ; Capital ; Capital income ; Capitalism ; Capitalist economy ; Economic growth ; Economic growth rate ; Economic policy ; Economics ; Growth theory ; history of economic thought ; Income distribution ; Income inequality ; Income shares ; Income taxes ; Personal income ; Piketty, Thomas ; political economy ; Portrayals ; Return on capital ; Wealth ; World War I
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abstractCapital in the Twenty-First Century by Thomas Piketty provides a unified theory of the functioning of the capitalist economy by linking theories of economic growth and functional and personal income distributions. It argues, based on the long-run historical data series, that the forces of economic divergence (including rising income inequality) tend to dominate in capitalism. It regards the twentieth century as an exception to this rule and proposes policies that would make capitalism sustainable in the twenty-first century.
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