Thomas Piketty has won the 2014 Financial Times and McKinsey Business Book of the Year Award for Capital in the Twenty-First Century (Harvard Univ. Press). The prize, which comes with a £30,000 purse, was presented to Piketty’s editor, Harvard's Ian Malcolm, at a ceremony in London on November 11.

Capital in the Twenty-First Century emerged after vigorous debate from an incredibly strong field," said Lionel Barber, editor of the Financial Times and chair of the panel of judges. "While not everyone agreed on the policy prescription, we recognized the quality of the scholarship. It’s a challenging but ultimately important book.”

The book, a sweeping account of the evolution of inequality in the modern world, was an unlikely bestseller after its publication in March. Sales for Capital now top 500,000 worldwide.

Each of the five remaining finalists for the award, which honors a book offering the most "compelling insight into modern business issues," will receive a £10,000 check.