What can the capital/income ratio tell us about a society and how its economy functions? What does it imply for inequality?

Piketty defines the capital/income ratio as the value of a country's capital stock divided by a year's worth of national income. The capital/income ratio in developed countries has historically been on the order of 6-7, however, in the U.S., it has remained at the level of 4-5. The capital/income ratio is dependent upon other key economic measures, such as levels of private wealth and public wealth, net foreign positions, and the capital-labor split.

Piketty often shows hostility towards his fellow economists. What does Piketty find problematic about the study of economics and how does his book either avoid and/or succumb to these problems?

In the Introduction, Piketty explains his own experience as a professional economist, with special focus given to...