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A Summary and Critique of

Thomas Piketty’s

Capital in the Twenty-First Century –

Where We Are,

What Is Next,

How Piketty is Right and Wrong

by I.K. Mullins

Copyright©2014 I.K. Mullins. All Rights Reserved. No part of this book may be reproduced or retransmitted in any form or by any means without the written permission of the author.

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Part I. Where We Are: Unofficial Summary of Key Facts Supporting Piketty’s Ideas in His Book, Capital in the Twenty First Century
*****1. Essential Features of Capitalism
*****2. Changes in Capital and Income from the 18th Century until the Present: Great Britain, France, and the United States
*****3. Population Growth and Creation of Wealth
*****4. Economic Growth, Inequality, Inflation
*****5. Patrimonial Capitalism and Society
*****6. Economic Inequality in the 20th and 21st Centuries
*****7. The Rise of Managers and Super-Managers
*****8. Education and Capital
*****9. The Future Evolution of the Capital/Income Ratio
*****10. Connections between Political and Economic Changes

Part II. How Piketty’s Theory is Correct: Critical Analysis of Piketty’s Principal Messages
*****1. Examination of Various Economic Theories
*****2. Fundamental Economic Laws of Capitalism
*****3. The Evolution of β and Income Inequality
*****4. Growth of Income Inequality as a Corporate Phenomenon
*****5. Patrimonial Capitalism
*****6. Policy Recommendations

Part III. How Piketty’s Theory Is Incomplete and Wrong in Certain Aspects
*****1. Limitations of the Data Used in Piketty’s Research
*****2. Inadequate Analysis of Forces That Drive Economic Inequality
*****3. Lack of Distinction between Real Regulated Markets and Theoretical Free Markets
*****4. Insufficient Analysis of the Effect of the Great Depression and Two World Wars on Wealth Distribution
*****5. Insufficient Analysis of the Relationship between Wealth and Political Power
*****6. Confirmation Bias and Reluctance to Consider Alternative Economic Systems
*****7. Real Objectives of Proposed Solutions



This is not the actual Thomas Piketty’s Capital in the Twenty First Century. The primary objective of this book is to bring insightful discussion and critique of Thomas Piketty’s Capital in the Twenty First Century to readers everywhere. This book includes a critique of Thomas Piketty’s book, as well as the review of the future of economic inequality predicted by other experts.

This book is not endorsed or affiliated with Thomas Piketty, or any person or entity associated with Thomas Piketty’s book, Capital in the Twenty First Century. Do not purchase this book if you are looking for a full copy of Thomas Piketty’s Capital in the Twenty First Century.

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