Capital in the Twenty-First Century

What are the grand dynamics that drive the accumulation and distribution of capital? Questions about the long-term evolution of inequality, the concentration of wealth, and the prospects for economic growth lie at the heart of political economy. But satisfactory answers have been hard to find for lack of adequate data and clear guiding theories. In his lecture, Thomas Piketty analyzes a unique collection of data in twenty countries, ranging as far back as the eighteenth century, to uncover key economic and social patterns. His findings are raising issues for the next generation of thought about wealth and inequality. Piketty shows that modern economic growth and the diffusion of knowledge have allowed us to…