My Book ‘PIKETTY MARX AND CAPITAL’ in Kindle edition:


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This book is a critique of Thomas Piketty’s much acclaimed work ‘Capital in the Twenty-First Century’. While critically examining the book, it brings out the major contradictions and inconsistencies inherent in Piketty’s treatment of the subject. Piketty’s pious wish to resurrect the spirit of classical political economy on the one hand, and his pragmatic preference for the big data methodology on the other hand, has been dealt as the first major inconsistency of his book. Piketty’s theoretical genealogy has been traced to Etiênne Bonnet de Condillac (1715-1780). In course of the critique, the book surveys the evolution of economic theories and schools as well as that of the contradictions inherent in the capitalist mode of production.

Piketty’s book has been compared with Karl Marx’s ‘Capital’ and some reviewers have christened it ‘Capital 2.0’. Piketty too has been called ‘Modern Marx’ or ‘Bigger than Marx’ by some critics. Moreover, Marx’s long shadow is quite apparent in his book from beginning to end. At every point, before propounding his conclusions, he remembers and cites Marx, but quickly backtracks. In this background, this book extensively deals with Piketty’s ‘Yes Marx No Marx’ syndrome.

Moreover, Piketty’s book refrains from considering certain major developments of the twentieth century that are playing vital role in shaping the economy and society in the twenty-first century. Piketty desist from entering new time, and hence the content of the book does not justify the title of the book. However, no book is complete and free from certain inconsistencies. Some incompleteness, certain inconsistencies are part of a book – it keeps the door of fresh explorations, interpretations and explanations open for those who want to pursue the subject further. Hence, despite certain inconsistencies, this book thanks Mr Piketty for unequivocally drawing attention to certain realities (substantiated by data spread over two centuries) that provide enough lessons for emerging economies.

The book is divided in eight sub-titles: i. Apocalypse and Exuberance; ii. Data and Dialectics; iii. Capital Social and Self-Expanding; iv. Wealth Inherited and Created; v. Century Twentieth and Twenty-First; vi. Yes Marx No Marx; vii. London Chicago Paris; and viii. Thank You Mr Piketty. At the end of the book a list of economists who have shaped our economic thinking and practice up to our own times has been provided.