Thomas Piketty in the context of "Capital in the Twenty-First Century"

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⭐ Core Definition: Thomas Piketty

Thomas Piketty (French: [tɔmɑ pikɛti]; born 7 May 1971) is a French economist who is a professor of economics at the School for Advanced Studies in the Social Sciences, associate chair at the Paris School of Economics (PSE) and Centennial Professor of Economics in the International Inequalities Institute at the London School of Economics (LSE).

Piketty's work focuses on public economics, in particular income and wealth inequality. He is the author of the best-selling book Capital in the Twenty-First Century (2013), which emphasises the themes of his work on wealth concentrations and distribution over the past 250 years. The book argues that the rate of capital return in developed countries is persistently greater than the rate of economic growth, and that this will cause wealth inequality to increase in the future. Piketty proposes improving the education systems and considers diffusion of knowledge, diffusion of skills, diffusion of idea of productivity as the main mechanism that will lead to lower inequality. In 2019, his book Capital and Ideology was published, which focuses on income inequality in various societies in history. His 2022 A Brief History of Equality is a much shorter book about wealth redistribution intended for a target audience of citizens instead of economists.

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Thomas Piketty in the context of Kuznets curve

The Kuznets curve (/ˈkʌznɛts/) expresses a hypothesis advanced by economist Simon Kuznets in the 1950s and 1960s. According to this hypothesis, as an economy develops, market forces first increase and then decrease economic inequality. As more data has become available with the passage of time since the hypothesis was expressed, the data shows waves rather than a curve.

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Thomas Piketty in the context of Paris School of Economics

The Paris School of Economics (PSE; French: École d'économie de Paris) is a French research institute in the field of economics. It offers MPhil, MSc, and PhD level programmes in various fields of theoretical and applied economics, including macroeconomics, econometrics, political economy and international economics.

PSE is a brainchild of the École des hautes études en sciences sociales (EHESS, where the students are enrolled primarily), École normale supérieure · PSL (ENS), the École des ponts and University Paris 1 Panthéon-Sorbonne. It is physically located on the ENS-PSL Jourdan campus, in the 14th arrondissement of Paris. It was founded in 2006 as a coalition of grandes écoles, a university and an école normale supérieure to unify high-level research in economics across French academia, and was first presided by economist Thomas Piketty.

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