Thomas Piketty, capitalism, political economy, John Paul II, inequality, economic ethics, ethics, Marxism
Thomas Piketty has given economists a lot to argue about, but their arguments miss the point of the book’s success. “Capital in the Twenty-First Century” is not a bestseller based on its economic merits. It’s a bestseller because it speaks to a deep moral anxiety. Confidence in capitalism has been shaken. The crisis of 2008 exposed weaknesses in the financialization of our economy. Piketty makes a valiant contribution to economic theory and history, but his empiricism succumbs ultimately to the same flaw John Paul II diagnosed in Marxism—it leads to an incoherent statement of moral order.
Baker, B. (2014). "Capital in the Twenty-First Century: A Tale Without Morality", The City, Summer 2014: 15-17.