The shocks of war, revolution, and decolonisation were primarily responsible for these changes. and Canada from 1700 to the present and finds that in the first three cases the power of capital reached a peak in 1914, fell up until 1950, and has since recovered. He looks at how this evolved in Britain, France, Germany the US. In chapters three and four, Piketty examines the capital/income ratio from a historical perspective. Next, he discusses the nature of growth, looking at how low economic and demographic growth is conducive to societies dominated by past wealth. In chapters one and two, he defines the key concepts of income, capital, the capital/income ratio, and income from capital. He looks at the views of David Ricardo and Karl Marx, who believed inequality would keep growing, and Simon Kuznets and Robert Solow, who believed it would stabilise. He also examines past thinking on the issue. In the introduction Piketty discusses new data on wealth and income inequality that has allowed him to conduct the most wide-ranging analysis of this topic to date.
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