5 ms·
> partially piped to consumers, and partially piped to owners. Or, the returns on capital exceed the rate of economic growth (r > g), if you like Piketty's Cap
by jaggederest 1y ago
> partially piped to consumers, and partially piped to owners.
Or, the returns on capital exceed the rate of economic growth (r > g), if you like Piketty's Capital in the Twenty First Century.
One of the central points is about how productivity and growth gains increasingly accrue to capital rather than labor, leading to capital accumulation and asset inflation.
- intended 1y agoYep, that’s the source of the point. The effort is in finding a way to make it easy to convey. Communication of an idea is almost as critical as its verification now.
- jaggederest 1y agoI just need to read it one of these days. I keep reading parts of it but never sitting down with it.
- intended 1y agoOh hell, don’t make me feel bad. I’ve got a meager capacity to trudge through major papers. I cheer you on.
- andrepd 1y agoYou're in luck! A couple years ago he released an "abridged version" of sorts. A Brief History of Inequality is the name. Much more accessible than the 700 pages of Capital in the 21st Century. https://en.m.wikipedia.org/wiki/Special:BookSources/9780674273559 https://en.m.wikipedia.org/wiki/Special:BookSources/97806742...