![]() ![]() And where Marx foresaw capitalism’s collapse leading to a utopian proletariat paradise, Piketty sees a future of slow growth and Gilded Age disparities in which the wealthy - owners of capital - capture a steadily larger share of global wealth and income. In its magisterial sweep and ambition, Piketty’s latest work, “Capital in the Twenty-first Century,” is clearly modeled after Marx’s “Das Kapital.” But where Marx’s research was spotty, Piketty’s is prodigious. Piketty and Saez gathered data from tax returns that confirm the story of stagnant middle-class incomes over the past 30 years while revealing how much the super-rich have pulled away from everyone else. The economist is Thomas Piketty, a professor at the Paris School of Economics, who with Emmanuel Saez of the University of California at Berkeley has recently turbocharged the debate about income inequality. ![]() Just when you thought Karl Marx had finally lost all political and economic relevance, a brilliant French economist has come along to pick up where the German philosopher left off - correcting for many of Marx’s mistakes, updating his analysis in light of subsequent experience and unearthing a bounty of modern economic data to support a theory about capitalism’s inherent and self-destructive contradictions. ![]()
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