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Capital in the Twenty-First Century

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TLDR
Piketty's Capital in the Twenty-First Century as mentioned in this paper is an intellectual tour de force, a triumph of economic history over the theoretical, mathematical modeling that has come to dominate the economics profession in recent years.
Abstract
A New York Times #1 Bestseller An Amazon #1 Bestseller A Wall Street Journal #1 Bestseller A USA Today Bestseller A Sunday Times Bestseller Winner of the Financial Times and McKinsey Business Book of the Year Award Winner of the British Academy Medal Finalist, National Book Critics Circle Award "It seems safe to say that Capital in the Twenty-First Century, the magnum opus of the French economist Thomas Piketty, will be the most important economics book of the year-and maybe of the decade." -Paul Krugman, New York Times "The book aims to revolutionize the way people think about the economic history of the past two centuries. It may well manage the feat." -The Economist "Piketty's Capital in the Twenty-First Century is an intellectual tour de force, a triumph of economic history over the theoretical, mathematical modeling that has come to dominate the economics profession in recent years." -Steven Pearlstein, Washington Post "Piketty has written an extraordinarily important book...In its scale and sweep it brings us back to the founders of political economy." -Martin Wolf, Financial Times "A sweeping account of rising inequality...Piketty has written a book that nobody interested in a defining issue of our era can afford to ignore." -John Cassidy, New Yorker "Stands a fair chance of becoming the most influential work of economics yet published in our young century. It is the most important study of inequality in over fifty years." -Timothy Shenk, The Nation

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Pareto and Piketty: The Macroeconomics of Top Income and Wealth Inequality

TL;DR: In this paper, the authors highlight some of the key empirical facts from this research and comment on how they relate to macroeconomics and to economic theory more generally, and describe simple mechanisms that give rise to Pareto distributions for income and wealth and consider the economic forces that influence top inequality over time and across countries.
References
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Journal ArticleDOI

Top Incomes in the Long Run of History

TL;DR: A recent literature has constructed top income shares time series over the long run for more than twenty countries using income tax statistics as discussed by the authors, and the estimation methods and issues that arise when constructing top income share series, including income definition and comparability over time and across countries, tax avoidance and tax evasion.
Journal ArticleDOI

A Model of Income Distribution

TL;DR: In this article, it was shown that the distribution of incomes between an enumerable infinity of income ranges is assumed to develop by means of a stochastic process and that the Pareto curve of the equilibrium distribution will be asymptotic to a straight line.
Journal ArticleDOI

Capital is Back: Wealth-Income Ratios in Rich Countries, 1700-2010

TL;DR: In this paper, the authors used 1970-2010 national balance sheets of the United States, United Kingdom, Germany, and France to investigate how the aggregate wealth-to-income ratios evolve in the long run and why.
Journal ArticleDOI

Inequality in the long run.

TL;DR: In this article, the authors take stock of recent progress that has been made in this area and present a number of basic facts regarding the long-run evolution of income and wealth inequality in advanced countries.
Journal ArticleDOI

Distribution of income and wealth among individuals

Joseph E. Stiglitz
- 01 Aug 1969 - 
TL;DR: In this article, the authors consider a simple model of accumulation with a linear savings function, a constant reproduction rate, homogeneous labor, and equal division of wealth among one's heirs.