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Book Review: Thomas Piketty Capital in the 21st century

Abstract

The reviewed book by T. Piketty has become one of the bestsellers in the world, and soon after its publication appeared reviews expressing both positive (and even enthusiastic) opinions, as well as highly critical ones. The latter, to some extent, refer to the theory of K. Marx, whose works are used by the author in the title of the book and partly in research. The subject of this publication is creation, division and possession of capital (wealth, wealth) in the modern world economy, especially highly developed countries. The key research task undertaken by Piketty concerns changes in the creation and distribution of wealth and income from the 18th century to the present, as well as lessons from this for the society and the present and future. In this context, an important place is occupied by the problem of economic and social inequalities arising in the global process of capital multiplication, which remains in the hands of a small group of its owners. The need to counteract unfavorable phenomena is growing, which leads to the development of a social state, a new type of public policy and the use of strong instruments to redistribute income.

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