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Piketty's claim seems empirically obvious, but also virtually obvious to anyone who has created a gaming economy. The rich get richer faster than anyone can cat
by seydor 3y ago
Piketty's claim seems empirically obvious, but also virtually obvious to anyone who has created a gaming economy. The rich get richer faster than anyone can catch up, so you have to introduce artificial constraints like increasing prices for rich people.
- iNic 3y agoAs I said in a different comment in this thread, Piketty's claim does not hold for all capital, it only holds for land. This is perfectly in line with theoretical predictions by David Ricardo[1]. The solution to this is a Land Value Tax as proposed by Henry George[2]. [1]: https://en.wikipedia.org/wiki/Law_of_rent https://en.wikipedia.org/wiki/Law_of_rent [2]: https://en.wikipedia.org/wiki/Land_value_tax https://en.wikipedia.org/wiki/Land_value_tax