Piketty argues all societies use ideology to legitimise inequality this ‘dominant narrative’ leads to rules and rules entrench inequality (1). ‘So if you read only one, please read this one!’ Personally, I would read both: while Capital in the Twenty-First Century has a positive thesis that with our current laws, the rate of return to capital exceeds the rate of growth (r > g), Capital and Ideology builds a normative thesis, driven by this data, that we should adopt democratic or ‘participatory socialism’. ‘I think this is a much better book than the previous one,’ said Piketty, referring to Capital in the Twenty-First Century (2014). Thomas Piketty’s Capital and Ideologyis an encyclopaedic, rewarding work that merits thoughtful engagement. Thomas Piketty (translated by Arthur Goldhammer). This encyclopaedic, rewarding work merits thoughtful engagement and is essential reading, writes Ewan McGaughey. In Capital and Ideology, Thomas Piketty proposes a vision for a fairer economic system grounded in ‘participatory’ socialism.
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