Remarks on Thomas Piketty's "Capital in the Twenty-First Century"

Article Highlights

  • Presentation by Kevin Hassett - how does Piketty's "Capital" hold up under scrutiny?

    Tweet This

  • Does Piketty's "Capital" really make the case for the policies he thinks it does?

    Tweet This

  • Kevin Hassett on Piketty's latest book - will capital really increase as he says?

    Tweet This

In his latest book, “Capital in the Twenty-First Century," Thomas Piketty argues that when the rate of return on capital exceeds economic growth, there is increasing wealth concentration.  This dynamic was held at bay during the 20th century by the world wars (which destroyed significant portions of capital stock) and population growth.  However, such forces may not occur in the 21st century, which Piketty argues could lead to an explosion in wealth disparity. He projects that this disparity could reach or surpass 19th century oligarchic levels and result in political and social upheaval.  He proposes a global wealth tax as the solution to rising inequality.

Kevin Hassett provided a pointed critique of Piketty’s book at an event at the Tax Policy Center on April 15; his slides are posted here.

Piketty's capital in the 21st century by American Enterprise Institute

Also Visit
AEIdeas Blog The American Magazine
About the Author

 

Kevin A.
Hassett

What's new on AEI

Defeating ISIS: AEI experts weigh-in before the president’s address on Wednesday
image Degrading, defeating, and destroying the Islamic State
image Wealth Building Home Loan: Building wealth through homeownership and retirement savings
image The $3 iPhone
AEI on Facebook
Events Calendar
  • 15
    MON
  • 16
    TUE
  • 17
    WED
  • 18
    THU
  • 19
    FRI
Tuesday, September 16, 2014 | 5:00 p.m. – 6:00 p.m.
The Constitution as political theory

Please join us for the third-annual Walter Berns Constitution Day Lecture as James Ceasar, Harry F. Byrd Professor of Politics at the University of Virginia, explores some of the Constitution’s most significant contributions to political theory, focusing on themes that have been largely unexamined in current scholarship.

Event Registration is Closed
Wednesday, September 17, 2014 | 8:10 a.m. – Thursday, September 18, 2014 | 1:30 p.m.
Third international conference on housing risk: New risk measures and their applications

We invite you to join us for this year’s international conference on housing risk — cosponsored by the Collateral Risk Network and AEI International Center on Housing Risk — which will focus on new mortgage and collateral risk measures and their applications.

Event Registration is Closed
Thursday, September 18, 2014 | 2:15 p.m. – 3:00 p.m.
Speaker of the House John Boehner on resetting America’s economic foundation

Please join us as Speaker John Boehner (R-OH) delivers his five-point policy vision to reset America’s economy.

Friday, September 19, 2014 | 9:15 a.m. – 11:00 a.m.
Reforming Medicare: What does the public think?

Please join us as a panel of distinguished experts explore the implications of the report and the consumer role in shaping the future of Medicare.

No events scheduled this day.
No events scheduled this day.
No events scheduled this day.
No events scheduled this day.