We are witnessing a grand shift in the nature of capitalist society. It is not to be found simply in the expanding chasms of economic inequality, nor in the rapid social and cultural transformations shaped by globalization. Of course, economic inequality raises concern among liberals, social democrats, and socialists alike. For all see in it an ethical problem, one of unfairness, of greed, of unequal control and power.
Inequality is the theme of our time. It should perhaps be said that it has always been so. But after the surge of globalization since the 1990s, the decreasing fortunes of the middle class, and the more recent shock of the 2008 financial crisis, it has come more sharply into focus. It is within this context that Thomas Piketty has published Capital in the Twenty-First Century, a book that is exhaustively researched and brimming with empirical data and interpretation.