Free exchange | Wealth inequality

NIMBYs in the twenty-first century

New research suggests rising returns on housing—not all wealth—may help explain rising inequality

By C.R. | LONDON

SINCE the publication of "Capital in the Twenty-First Century", Thomas Piketty has won many plaudits for his work on inequality. The book has so far sold more than 1.5m copies. Its arguments have been praised by Nobel-prize winners and politicians alike. Last year it won the Financial Times's business book of the year award, despite the newspaper's attempts to poke holes in the book's data and arguments. On March 25th Prospect magazine put Mr Piketty atop its World Thinkers list for 2015 (alongside Yanis Varoufakis, Greece's leather-jacket wearing finance minister, Naomi Klein and Russell Brand, it should be noted). But a new challenge to Mr Piketty's book has just appeared, and from an unexpected direction.

More from Free exchange

Religious competition was to blame for Europe’s witch hunts

Many children are still persecuted as alleged witches in Africa for similar reasons

Has BRICS lived up to expectations?

The bloc of big emerging economies is surprisingly good at keeping its promises


How to interpret a market plunge

Whether a sudden sharp decline in asset prices amounts to a meaningless blip or something more depends on mass psychology