Alan Ryan
A Tax on Both Your Houses
Capital in the Twenty-First Century
By Thomas Piketty (Translated by Arthur Goldhammer)
Harvard University Press/The Belknap Press 685pp £29.95 order from our bookshop
In the 19th century, tsarist censors banned John Stuart Mill’s On Liberty while letting through Karl Marx’s Das Kapital. Mill’s message was so lucidly expressed that it posed an obvious and immediate threat to the regime; Marx’s prose was clotted and convoluted and his economics littered with leftovers from his youthful enthusiasm for Hegel. Thomas Piketty’s Capital in the Twenty-First Century shares its title with Marx’s work but its argumentative verve with Mill’s, and it has been a runaway bestseller in the United States. In spite of the efforts of conservative American economists to persuade their readers that anyone who raises questions about inequalities of income and wealth must be a Marxist, Piketty has no time whatsoever for Marx. Piketty’s economics is ‘data driven’, while Marx was short of useful data, did not make good use of what data he had and generalised wildly from a few exceptional cases of capital-intensive industries, such as Manchester textile manufacturing.
Piketty has been described as a ‘rock-star economist’, both admiringly and somewhat mockingly.
Sign Up to our newsletter
Receive free articles, highlights from the archive, news, details of prizes, and much more.@Lit_Review
Follow Literary Review on Twitter
This spring, give the gift of reading.
Give a friend a gift subscription to Literary Review for only £33.50.
https://www.mymagazinesub.co.uk/literary-review/promo/spring21/
'It’s long been known that there is an optimum reproductive window and that women enjoy a considerably shorter one than men. For both sexes this window is opening and closing earlier than it used to.' (£)
https://literaryreview.co.uk/the-end-of-babies
Sixty years ago today, the Russian cosmonaut Yuri Gagarin became the first human to enter outer space. @Andrew_Crumey looks at his role in the space race.
https://literaryreview.co.uk/one-giant-leap-for-mankind