ADVANCED READING LISTENING VOCABULARY Piketty Fever

ADVANCED READING LISTENING VOCABULARY Piketty Fever

PIKETTY FEVER

A) Match these terms from the reading with their definitions.

1. accumulate                        a) the speed at which something happens or is done
2. boost                                  b) to reduce or prevent the bad effect of something, by doing  something that has the opposite effect
3. idle rich                             c) to increase or improve something and make it more successful
4. provoke                             d) more than is normal or reasonable
5. hostility                             e) to cause a reaction or feeling, especially a sudden one
6. pace                                    f) strong or angry opposition to something often in a violent way
7. appropriation                    g) rich people who do not have to work
8. counteract                         h) to gradually increase in numbers or amount until there is a large quantity in one place
9. unduly                                i) an unfair situation
10. inequality                        k) the act of taking control of something without asking permission


B) LISTEN AND READ


C) Look at the following statements and the list of people in the box below.
Match each statement with the correct person.

1. Financial capital earns a return is an idea having been long disliked.
2. The levels of future inequality have probably been exaggerated in Pickety’s book.
3. Mr Piketty fails to take account of the variation in his analysis.
4. Mr Piketty’s pessimism is disproportionate.
5. Mr Piketty’s recommendations are motivated by ideology more than economics.

A Kevin Hassett
B Clive Crook
C Tyler Cowen
D Daniel Shuchman
E Jim Pethokoukis
F Greg Mankiw


D) Answer the following questions.
1. What was the author’s main purpose in writing this account?
2. What are the main categories for criticism of Mr Piketty’s book?
3. What does Mr Piketty mean by the statement “r > g”?
4. How does Mr Piketty illustrate his points?
5. What does Mr Piketty think about riskier ventures?
6. What has happened to wealth since 1700?
7. According to Mr Piketty, how the return on capital can be propped?
8. What is the topic of final section of the pikketty’s book?
9. What is the result of growing inequality in Pikketty’s idea?


E) From the list of words below, select the correct word for each blank space. Use each word only once.
wonky / prop / blob /  blithely /  retailer / reckoned /  instability /  think-tank /  perpetuate /  venture / mass /  mushily /  glossed /  bedrock /  disguise

1. I still haven’t really settled to it because my nerves have gone all ………………….. being in the house.
2. The average selling price for flats in the area was ………………….. to be around £200,000..
3. She carried with her the values of the eastern seaboard, sought to ………………….. them, and succeeded
4. The government introduced measures to ………………….. up the stock market.
5. There was a ………………….. of people around the club entrance.
6. She ………………….. over the details of her divorce.
7. Without a telescope, the comet will look like a fuzzy ……………………
8. Cook for two minutes until soft but do not cook ……………………
9. “There’s no way you can ………………….. that southern accent.
10. He seems ………………….. unaware of how much anger he’s caused.
11. Marriage and children are the ………………….. of family life.
12. That coterie would also act, as they did for the 1991 event, very much as a ……………………
13. Mattel would not disclose its investment in the new ……………………
14. A big reason why ………………….. file for bankruptcy is their inability to get credit.
15. There are fears that political ………………….. in the region will lead to civil war.


A) Match these terms from the reading with their definitions.

1. accumulate H                       a) the speed at which something happens or is done
2. boost      C                            b) to reduce or prevent the bad effect of something, by doing  something that has the opposite effect
3. idle rich G                            c) to increase or improve something and make it more successful
4. provoke                             d) more than is normal or reasonable
5. hostility     F                        e) to cause a reaction or feeling, especially a sudden one
6. pace      A                              f) strong or angry opposition to something often in a violent way
7. appropriation       K             g) rich people who do not have to work
8. counteract   B                      h) to gradually increase in numbers or amount until there is a large quantity in one place
9. unduly                              i) an unfair situation
10. inequality    İ                    k) the act of taking control of something without asking permission


C) Look at the following statements and the list of people in the box below.
Match each statement with the correct person.

1. Financial capital earns a return is an idea having been long disliked.

1. D (at the book’s “medieval hostility to the notion that financial capital earns a return”.)

2. The levels of future inequality have probably been exaggerated in Pickety’s book.

2. B (Clive Crook, a columnist at Bloomberg (and former deputy editor of The Economist), asks whether the levels of future inequality the book predicts are really as “terrifying” as Mr Piketty claims.)

3. Mr Piketty fails to take account of the variation in his analysis.

3. C (fails to take account of the variation, across time and investments, in the returns to wealth.)

4. Mr Piketty’s pessimism is disproportionate.

4. E (that the same excessive pessimism about economies’ capacity for growth that sank Marx’s prophecies would also undermine Mr Piketty’s.)

5. Mr Piketty’s recommendations are motivated by ideology more than economics.

5. F (argue that his recommendations are motivated by ideology more than economics.)

A Kevin Hassett
B Clive Crook
C Tyler Cowen
D Daniel Shuchman
E Jim Pethokoukis
F Greg Mankiw


D) Answer the following questions.
1. What was the author’s main purpose in writing this account?
2. What are the main categories for criticism of Mr Piketty’s book?
3. What does Mr Piketty mean by the statement “r > g”?
4. How does Mr Piketty illustrate his points?
5. What does Mr Piketty think about riskier ventures?
6. What has happened to wealth since 1700?
7. According to Mr Piketty, how the return on capital can be propped?
8. What is the topic of final section of the pikketty’s book?
9. What is the result of growing inequality in Pikketty’s idea?

1. To provide pros and cons of the book of “Capital in the Twenty-First Century”
2. there are four catagories of criticism as follows:
a) His tone and antipathy to markets
b) Book’s economics ignores principles of economics and it has a problem of definitions.
c) Mr Piketty overstates the extent to which the future is likely to resemble the past.
d) It provides politically impossible solutions
3. Wealth generally grows faster than the economy (wealth accumulates faster than economic growth)
4. He uses 19th-century literature to illustrate many of his points
5. Riskier ventures are more lucrative than safer bets like government bonds.
6. Wealth globally has enjoyed a typical pre-tax return of between 4% and 5% a year—considerably faster than average economic growth.
7. By technology, which could lead to new ways of substituting machines for people.
8. The book’s final section, on how policy should respond to rising inequality
9. He believes that growing inequality leads to instability.


1. I still haven’t really settled to it because my nerves have gone all wonky being in the house.
2. The average selling price for flats in the area was reckoned to be around £200,000..
3. She carried with her the values of the eastern seaboard, sought to perpetuate them, and succeeded
4. The government introduced measures to prop up the stock market.
5. There was a mass of people around the club entrance.
6. She glossed over the details of her divorce.
7. Without a telescope, the comet will look like a fuzzy blob.
8. Cook for two minutes until soft but do not cook mushily.
9. “There’s no way you can disguise that southern accent.
10. He seems blithely unaware of how much anger he’s caused.
11. Marriage and children are the bedrock of family life.

12. That coterie would also act, as they did for the 1991 event, very much as a think tank.
13. Mattel would not disclose its investment in the new venture.

14. A big reason why retailers file for bankruptcy is their inability to get credit.
15. There are fears that political instability in the region will lead to civil war.

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