Capital in the Twenty-First Century

As Piketty highlights, it has become fashionable in the academy and the even the broader culture to suppose “that every statistic is a social construct” (751). Data and statistics, in this view, do not reveal objective or neutral truths about reality. Rather, they reflect underlying power structures, re-enforcing the perspectives of certain dominant groups and interests. Yet, this perspective is severely limiting. While it is true that statistics, or at least the way they are presented, are often bound up with ideologies and agendas, we cannot do without them if we want a full understanding of a topic. This is especially the case with inequality. For as Piketty says, “without precisely defined sources, methods, and concepts, it is possible to see everything and its opposite” (3).

This is very much what we observe in contemporary US and UK political discourse. One side says inequality is increasing. Another side says it is falling. Another says that it does not matter either way because all boats are rising. Without consensus on some sociological and economic facts, meaningful negotiation between or verification of these positions will be impossible. Discussion will become merely the