Contents

Introduction 1 Capital in the Twenty-­First ­Century, Three Years ­Later 1 J. Bradford DeLong, Heather Boushey, and Marshall Steinbaum

I. Reception 1. The Piketty Phenomenon 27 Arthur Goldhammer 2. Is Right 48 Robert M. Solow 3. Why ­We’re in a New Gilded Age 60

II. Conceptions of Capital 4. What’s Wrong with Capital in the Twenty-­First ­Century’s Model? 75 Devesh Raval 5. A Po­liti­cal Economy Take on W / Y 99 Suresh Naidu 6. The Ubiquitous Nature of Slave Capital 126 Daina Ramey Berry 7. Human Capital and Wealth before and ­afterCapital in the Twenty-First­ Century­ 150 Eric R. Nielsen 8. Exploring the Effects of Technology on Income and Wealth Inequality­ 170 Laura Tyson and 9. Income In­equality, Wage Determination, and the Fissured Workplace 209 David Weil

III. Dimensions of In­equality 10. Increasing Capital Income Share and Its Effect on Personal Income Inequality­ 235 Branko Milanovic Contents

11. Global Inequality­ 259 Christoph Lakner 12. The Geographies ofCapital in the Twenty-­First ­Century: Inequality,­ Po­liti­cal Economy, and Space 280 Gareth A. Jones 13. The Research Agendaafter ­ Capital in the Twenty-­First ­Century 304 14. Macro Models of Wealth In­equality 322 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 21. 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 567 Acknowledgments­ 660 Index 661

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