Thomas Piketty: the book of the moment
This is a huge book, more than 700 pages long, dense with footnotes, graphs and mathematical formulae. At first sight it is unashamedly an academic tome and seems both daunting and incomprehensible. In recent weeks and months the book has however set off fierce debates in the United States about the dynamics of capitalism, and especially the apparently unstoppable rise of the tiny elite that controls more and more of the world's wealth. In non-specialist blogs and websites across America, it has ignited arguments about power and money, questioning the myth at the very heart of American life – that capitalism improves the quality of life for everyone. This is just not so, says Piketty, and he makes his case in a clear and rigorous manner that debunks everything that capitalists believe about the ethical status of making money.
The groundbreaking status of the book was recognised by a recent long essay in the New Yorker in which Branko Milanovic, a former senior economist at the World Bank, was quoted as describing Piketty's volume as "one of the watershed books in economic thinking". In the same vein, a writer in the Economist reported that Piketty's work fundamentally rewrote 200 years of economic thinking on inequality...
Unlike many economists he insists that economic thinking cannot be separated from history or politics; this is what gives his book the range the American Nobel laureate Paul Krugman described as "epic" and a "sweeping vision".
Here you can watch a presentation and discussion with Piketty on 15 April in Washington, as moderated by Heather Boushey, Executive Director and Chief Economist of the Washington Center for Equitable Growth, with Josh Bivens, Research and Policy Director of the Economic Policy Institute, Robert M. Solow, Professor Emeritus at the Massachusetts Institute of Technology, and Betsey Stevenson, Member of the White House Council of Economic Advisers, serving as discussants.
Update: Here you can watch an interview with Piketty on msnbc on 17 April.
Update: Here you can watch a discussion on Piketty's work between Bill Moyers and Paul Krugman on 20 April.
Update: Here you can watch a presentation and discussion with Piketty at the Graduate Centre, CNUY, featuring Joseph Stiglitz (Columbia University), Paul Krugman (Princeton University), and Steven Durlauf (University of Wisconsin-Madison), and Branko Milanovic on 23 April.
Update: What's the difference between Thomas Piketty and Warren Buffet (1 May).
Update: Paul Krugman, Mike Konczal, Matt Bruenig, and Steve Pressman on the significance of the Financial Times allegations (25 May). Salon on the FT's 'big whiff' (26 May).
Some other reviews:
- Financial Times (Martin Wolf)
- Guardian (Will Hutton)
- New Statesman
- New Left Review (access through university library data bases or by subscription)
- The Economist
- Slate (amusing: bites Piketty's critics)
- Salon (Thomas Frank)
- Vox (story & interview: recommended)
- CBS (short & sharp, for the busy reader)
- Prospect (Robert Skidelski)
- The Nation
- Project Syndicate (Dani Rodrik)
- Project Syndicate (Brad DeLong)
- Dissent (John K. Galbraith)
- New York Times
- Foreign Affairs
- Washington Post
- Huffington Post
- American Prospect
- New Republic (Robert Solow)
- Journal of Economic Literature (Branko Milanovic)
- Irish Times
- The Globe and Mail
- Book Forum
- Inside Story (John Quiggin)
- AlterNet (Robert Reich)
- From the introduction (highly recommended)
- Figures & tables presented in the book
- From the technical appendix
- Addendum: Response to FT
Also on the Evatt site:
- Behind the chaste veil: inequality in Australia, post-Piketty, by Christopher Sheil
- Piketty v. Marx by Russell Jacoby
- Capital in the 21st Century: Review article