Economics and business:
Capital in the Twenty-First Century. By Thomas Piketty. Belknap Press; 696 pages; $39.95 and £29.95. Buy from Amazon.com<http://www.amazon.com/exec/obidos/ASIN/067443000X/theeconomists-20>; Amazon.co.uk<http://www.amazon.co.uk/exec/obidos/ASIN/067443000X/economistshop-21>
An unlikely bestseller by a French economist, who, by looking at historical changes in the concentration of income and wealth, shows that the importance of wealth in modern economies is approaching levels unseen since before 1914.
The Forgotten Depression, 1921: The Crash that Cured Itself. By James Grant. Simon & Schuster; 254 pages; $28. Buy from Amazon.com<http://www.amazon.com/exec/obidos/ASIN/1451686455/theeconomists-20>; Amazon.co.uk<http://www.amazon.co.uk/exec/obidos/ASIN/1451686455/economistshop-21>
A study of the searing 1920s by the founder of a well-regarded financial newsletter. It sheds light on a nasty, but largely ignored, episode and demonstrates that a laissez-faire approach can cure slumps better than the government activism of the 1930s-or indeed 2008.
Brazil: The Troubled Rise of a Global Power. By Michael Reid. Yale University Press; 334 pages; $32.50 and £20. Buy from Amazon.com<http://www.amazon.com/exec/obidos/ASIN/0300165609/theeconomists-20>; Amazon.co.uk<http://www.amazon.co.uk/exec/obidos/ASIN/0300165609/economistshop-21>
Our former Americas editor, now the Bello columnist, analyses the troubled rise of a global power and looks at the challenges that lie ahead.