Piketty’s Capital: Wrong Theory, Destructive Program

This essay is an in-depth critique of Thomas Piketty’s Capital in the Twenty-First Century. I show that Piketty’s destructive program of confiscatory taxation of income and capital derives from his lack of essential knowledge in the areas of the theory of capital, profit, and saving. My essay is not only a critique of Piketty’s Capital but also an introduction to sound ideas in these and related areas.