Capital in the Twenty-First Century

DHH named it in his five political and economics books tweet.

“Even with its flaws, Piketty's work contributes at least as much light heat.”

Bill Gates reviewed the book on his Gates Notes blog.

“It presumes, first, that the return to capital diminishes slowly, if at all, as wealth is accumulated and, second, that the returns to wealth are all reinvested. Whatever may have been the case historically, neither of these premises is likely correct as a guide to thinking about the American economy today.”

In his Democracy Journal review 'The Inequality Puzzle,' Summers argues against Piketty's central mechanism — that because r exceeds g, wealth-to-income ratios inexorably rise — contending it wrongly presumes capital returns diminish slowly and that returns are fully reinvested.

“the widespread assumption that income inequality has also been shooting upwards is plain wrong”

Ridley argues against Piketty's thesis that inequality is inexorably rising, contending that disposable-income inequality has actually fallen and that Piketty overstates the growth of wealth inequality.