My guess is that there are a lot more people who are curious about the book than there are who have read it, so in my writing I won’t assume that you’re one of the ones who’s read it.
I’m also guessing that my modest readership is not majority economists, so I’ll aim to be comprehensible to people not versed in the linguistic conventions of our field.
Enjoy!
The state plays a key role in Piketty’s Capital in the 21st Century.
The central fact of the book is the decline in inequality during the first half of the 20th century, the continued relatively low level after World War II, and the renewed increase after about 1980.
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| Income shares of the top 10%, top 1%, top 0.1%, and top 0.01% in the U.S. Data from World Wealth and Income Database www.wid.world |
