AFTER PIKETTY

The Agenda forEconomics and Inequality

Edited by

Heather Boushey J. Bradford DeLong Marshall Steinbaum

III III Harvard University Press CAMBRIDGE, MASSACHUSETTS LONDON, ENGLAND 2017 Contents

Introduction Capital in the Twenty-First Century, Three Years Later J. Bradford DeLong, Heather Boushey, and Marshall Steinbaum

I. Reception i. The Piketty Phenomenon Arthur Goldhammer i. Is Right Robert M. Solow 3. Why We're in a New Gilded Age PaulKrugman

II. Conceptions of Capital 4. What's Wrong with Capital in the Twenty-First Century 's Model Devesh Raval 5. A Political Economy Take on W/Y Suresh Naidu 6. The Ubiquitous Nature of Slave Capital Daina Ramey Berry 7. Human Capital and Wealth befbre and after Capital in the Twenty-First Century Eric R. Nielsen 8. Exploring the Effects of Technology on Income and Wealth Inequality Laura Tyson and 9. Income Inequality, Wage Determination, and the Fissured Workplace David Weil

III. Dimensions of Inequality 10. Increasing Capital Income Share and Its Effect on Personal Income Inequality Branko Milanovic CONTENTS

ii. Global Inequality 2.59 Christoph Lakner ii. The Geographies of Capital in the Twenty-First Century. Inequality, Political Economy, and Space 2.8 o Gareth A. Jones 13. The Research Agenda after Capital in the Twenty-First Century 304 14. Macro Models of Wealth Inequality 321 Mariacristina De Nardi, Giulio Fella, and Fang Yang 15. A Feminist Interpretation of Patrimonial 355 Heather Boushey 16. What Does Rising Inequality Mean for the Macroeconomy ? 384 Mark Zandi 17. Rising Inequality and Economic Stability 412 Salvatore Morelli

IV. The Political Economy of Capital and Capitalism 18. Inequality and the Rise of Social Democracy: An Ideological History 439 Marshall I. Steinbaum 19. The Legal Constitution of Capitalism 471 David Singh Grewal 20. The Historical Origins of Global Inequality 491 Ellora Derenoncourt zi. Everywhere and Nowhere: Politics in Capital in the Twenty-First Century 512 Elisabeth Jacobs

V. Piketty Responds 22. Toward a Reconciliation between and the Social Sciences 543 Thomas Piketty

Notes 5<$7 Acknowledgments 660

Index 66l

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