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In this book, Thomas Piketty examines the historical dynamics of wealth and income inequality from the 18th century to the present. He argues that when the rate of return on capital exceeds the rate of economic growth, it leads to a concentration of wealth and significant social and economic instability. Piketty's analysis is based on extensive historical and comparative data from over twenty countries, challenging the notion that free market capitalism naturally reduces inequality. He proposes a global system of progressive wealth taxes to mitigate these inequalities and protect democratic values. The book is a groundbreaking work that reorients our understanding of economic history and the inherent contradictions of capitalism[1][4][5].

The Asset Economy argues that the growth of asset ownership, particularly in property, has become a central driver of wealth and inequality in Anglo-capitalist societies. The authors contend that this shift has led to a new class structure where access to assets, rather than employment, is key to social mobility. They also discuss how policies since the 1970s have supported asset price inflation at the expense of wage growth, leading to significant wealth disparities.