American Economic Review Vol. 105 No. 5 2015
Yes, r > g. So What?
Abstract
Piketty argues that r > g is the “the central contradiction of capitalism” and that it will lead to an “endless inegalitarian spiral.” As a result, he argues for a new global tax on capital. In this brief essay, I explain why I am not persuaded by either his prediction or his prescription.
- DOI
- 10.1257/aer.p20151059
- Volume
- 105
- Issue
- 5
- Pages
- 43-47
- Language
- en
- Sources
- bibtex:phds-export.bib openalex crossref