Capital in the Twenty-First Century

Capital is all the non-human, tradeable assets owned by a person. This includes land, real estate, and stocks and shares. For Piketty, capital is synonymous with wealth and contrasted with income.

The size of the stock of accumulated wealth relative to the flow of income. A high capital/income ratio implies a society dominated by past wealth.

One hundredth, or one percent, of a population or group.