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Ah yes, sorry, I had a brain fart and confused growth and inflation... As for Piketty's point on technological innovation, isn't it that it is one possible mec
by mrow84 12y ago
Ah yes, sorry, I had a brain fart and confused growth and inflation...
As for Piketty's point on technological innovation, isn't it that it is one possible mechanism to escape the capital trap, but only if the rents on the resulting developments are low enough, and that historically they haven't been because of investor's desire for returns?
- vasilipupkin 12y agoI think his point is that technological innovation will result in transfer of income from labor to investors that finance the innovation. It most certainly will, but he skirts the issue that the innovation itself could very well dramatically increase GDP !
- mrow84 12y agoIsn't it more that there will be a transfer in the share of income, rather than the absolute amount - i.e. not ruling out a rise in absolute GDP?