Why did I love this book?
In contrast to seeing the causes of inequality flowing from the labour market, this book is focused on how the capital income ratio has changed using long time series of data that Piketty and his collaborators have assembled.
Piketty argues that there is a long-run tendency for the growth of capital to outpace income and this leads to increasing income accruing to capital which explains the rising levels of inequality in capitalist economies. His most well-known assertion is that r>g where r is the average annual rate of return on capital and g is the rate of growth of the economy.
In fact, this inequality has been emblazoned on t-shirts of those protesting the rise in income of the 1 percent.