Capital Accumulation and Policy Recommendations: A Review Essay of Thomas Piketty’s Capital in the Twenty-First Century

Authors
Dominic Martin
Université du Québec à Montréal
Abstract
In this review, I say a few words about the analysis portion of Piketty’s book, but I will focus mostly on its solution portion. In the first section, I go over Piketty’s main argument and make two critical points: there is a lack of consideration for, first, human capital and, second, absolute levels of income and capital per capita. The second section of this essay focuses on the solution portion of the book. I also go over Piketty’s argument and make five more substantial points: I wonder what Piketty means by social justice; I emphasize that raising taxes is desirable; I ask why it is capital that should be taxed, and how feasible a global tax on capital would be; and finally, I claim that the book could provide more guidance in terms of the policies that could be put in place right now. If the global taxation of capital is not politically feasible in the short to medium term, what should be done in the meantime?
Keywords piketty  capital  income  taxation  inequality  economic justice
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DOI 10.7202/1032734ar
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