Problems of Systemic Regulation of Capitalism in the XXI Century

Rubric: Around Books

V. Klinov, Moscow State Institute of International Relations (University) of Ministry of Foreign Affairs, 76, Vernadskogo Prosp., Moscow, 119454, Russian Federation (

Abstract. Review of the book: Piketty T. Capital in the Twenty-First Century. Cambridge (Mass.), The Belknap Press of Harvard University Press, 2014, VIII+685 p. The problem of how to regulate capitalism so that to reverse increasing inequality of income and wealth in advanced countries is dealt with. The existence of long waves in the dynamics of the split of national income between labor and capital has been proved. The possibilities and the need to use tax policy instruments to avoid the rise in inequality of income and wealth are elaborated. The reform of the tax policy suggested by T. Piketty is evaluated.

Keywords: inequality of income and wealth, advanced economies, long waves of development, distribution of national income, labor and capital incomes, regulation of capitalism, tax policy

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For citation:
Klinov V. Problems of Systemic Regulation of Capitalism in the XXI Century. World Eonomy and International Relations, 2015, no. 8, pp. 117-127

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