Graham Room's review article in the *Journal of European Social Policy* (2015) examines Thomas Piketty's *Capital in the Twenty-First Century*. Room highlights the book's central argument that capitalism has an inherent tendency to increase inequality, challenging the notion that wealth and prosperity will "trickle down" or that inequality will naturally decrease over time. Room notes that Piketty's analysis is grounded in historical and institutional context, focusing on France and the UK from the late 18th century to the present. However, Room critiques Piketty's failure to provide a dynamic economic theory that explains the interplay between the rates of return on capital (r) and growth (g), suggesting that Piketty's equations lack a thorough analysis of modern economic dynamics. Room also discusses Piketty's identification of three major changes in industrial societies since the 20th century: the middle classes' acquisition of wealth, the rise of high-skill occupations, and the increasing rewards for "super-managers" in the financial sector. Room argues that Piketty's focus on traditional income sources from capital and labor may overlook the evolving nature of capitalist production and the role of entrepreneurial income and labor. Room further critiques Piketty's limited treatment of global economic relations, multinational corporations, and the impact of economic globalization on employment and social benefits. In terms of policy implications, Room suggests that Piketty's focus on a global tax on capital and institutional reforms in Europe is important but insufficient without a clear economic strategy. Room emphasizes the need for active government intervention to address economic challenges, particularly through public investment programs, and argues that Piketty's work has reignited the debate on inequality and public policy, calling for a broader engagement from social policy researchers and policymakers.Graham Room's review article in the *Journal of European Social Policy* (2015) examines Thomas Piketty's *Capital in the Twenty-First Century*. Room highlights the book's central argument that capitalism has an inherent tendency to increase inequality, challenging the notion that wealth and prosperity will "trickle down" or that inequality will naturally decrease over time. Room notes that Piketty's analysis is grounded in historical and institutional context, focusing on France and the UK from the late 18th century to the present. However, Room critiques Piketty's failure to provide a dynamic economic theory that explains the interplay between the rates of return on capital (r) and growth (g), suggesting that Piketty's equations lack a thorough analysis of modern economic dynamics. Room also discusses Piketty's identification of three major changes in industrial societies since the 20th century: the middle classes' acquisition of wealth, the rise of high-skill occupations, and the increasing rewards for "super-managers" in the financial sector. Room argues that Piketty's focus on traditional income sources from capital and labor may overlook the evolving nature of capitalist production and the role of entrepreneurial income and labor. Room further critiques Piketty's limited treatment of global economic relations, multinational corporations, and the impact of economic globalization on employment and social benefits. In terms of policy implications, Room suggests that Piketty's focus on a global tax on capital and institutional reforms in Europe is important but insufficient without a clear economic strategy. Room emphasizes the need for active government intervention to address economic challenges, particularly through public investment programs, and argues that Piketty's work has reignited the debate on inequality and public policy, calling for a broader engagement from social policy researchers and policymakers.