4 ms·
Only tangentially. I recently finished Pikkety's "Capital" and found it very much to be (as you said) about observed behavior not theory. His primary discussio
by petermcneeley 8y ago
Only tangentially. I recently finished Pikkety's "Capital" and found it very much to be (as you said) about observed behavior not theory. His primary discussion is about labor vs capital return split of output (and its resulting effect on individual inequality). He does discuss observed economies of scale for returns on capital which could have monopolistic effects. (aka returns on 1 million might be 5% but for 100 million might be 7%)