El Capital En El Siglo Xxi May 2026

)—profits, dividends, and interest—tends to grow faster than the overall economy (

Capital in the Twenty-First Century - Harvard University Press El capital en el siglo XXI

This concentration of wealth was only interrupted by the "shocks" of the two World Wars and the Great Depression, which destroyed capital and led to high taxes on the rich. This created a unique period where economic growth outpaced capital returns, allowing a middle class to flourish. El capital en el siglo XXI

Before the 20th century, a tiny elite owned nearly all the wealth, as seen in the novels of Jane Austen and Honoré de Balzac . In these societies, inheriting a fortune was a far more reliable path to success than working for a salary. El capital en el siglo XXI