Affiliation:
1. Department of Economics, Harvard University, Cambridge, MA 02138 (e-mail: )
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.
Publisher
American Economic Association
Subject
Economics and Econometrics
Cited by
62 articles.
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