It has been somewhat less than two years since Thomas Piketty's "Capital in the 21st Century" was published, and less tthan a year since its English translation was made available to those who do not speak French. In that timeframe the book created quite a sensation, and indeed I distinctly recollect that it made the cover of such disparate publications as 'The Nation' and 'Bloomberg Business Week' (I know this because I read both cover articles). Nevertheless, it is a weighty tome, and I get the ijmpression the work is more talked about then carefully read; generally it is not read at all by those on the right (and not reading it has not prevented a number of screeds being written against is, some of which are still bouncing around) but I also wonder how many in the Progressive camp truly took the time to read what it says and why...and reading Paul Krugman summarizing it does not count.
Now I don't condemn those who have busy lives and limited leisure for not completing the work. In fact, many I realize that many are not economic nerds and bookworms like myself and thus can grasp its lesson without having to parse it page by page. Nevertheless since I did, I feel qualified to both recap a little summary of the work, and also I cam across a little blurb from one of my investments that more than anything sheds a little light on the matter. I am one with those who think a good essay is sometimes one that quickly cuts throught the obfuscation and gets to a nice sharp point
Hence this unplanned contribution today