summary ofCapital in the 21st CenturyBook by Thomas Piketty

first KEY POINT

Wealth inequality is one of the biggest challenges confronting the world today

Many challenges face the modern world, some we know about, such as pandemics and climate change, and others that are less talked about, such as the subject of this summary. Throughout history, there have been subjects that have forced world leaders to collaborate, develop innovative ideas, and perhaps even take action that wasn’t all that popular. However, wealth inequality could be one of the biggest challenges the world faces.There are countless people worldwide living in some degree of poverty, ranging from just making ends meet at the end of the month to not having enough food to eat or a roof over their heads. The truth is even more worrying when you consider the extreme weather that some have.

In an ideal world, wealth would be evenly distributed so that nobody would go without. But we don’t live in a perfect world. The way wealth, i.e., money, is distributed has long been a hot and highly controversial topic. However, Thomas Piketty decided to lift the lid on this challenging subject and unpick its origins to learn more about why wealth is so unevenly distributed and what we can do to fix it.Many scholars and economists have pondered the subject. Karl Marx debated whether the way private capital works leads to it being held by fewer people, i.e., the rich simply becoming richer. Many also consider business competition and technological progress a driving force that could perhaps reduce wealth inequality and bring the classes closer together.Throughout this summary, you will learn the main findings of Thomas Piketty’s extensive studies and have a glimpse into what the future may hold. From inherited wealth taking over to the possibility of taxation of the wealthy, what do the years ahead hold?