Juma on Piketty's Capital: Can Africa Avoid the Trap of Unequal Growth?

Review of Capital in the 21st Century by Thomas Piketty

The bestseller by radical economist Thomas Piketty could teach African policymakers how to curb the excesses of capitalism

The revival of Africa's economic fortunes has ushered in a new mood of optimism. 'Africa Rising' has become shorthand for describing emerging trends. It is a hopeful mood that is driven mostly by reference to aggregate figures. The most critical question is not whether Africa will sustain its growth or not. It is whether it can avoid the trap of unequal growth that is so vividly described in Thomas Piketty's bestselling book: Capital in the 21st Century.

Drawing from a large body of evidence throughout the last century, Piketty returns his readers to the fundamentals of political economy....

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