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benmoll
searching PlanetScale…
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by
benmoll
7y ago
Yes you're 100% spot on. That other income sources and in particular labor income grow at g is just an assumption in Piketty's theory. If labor income is growing at a different rate, the "correct" version of the theory s
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by
benmoll
7y ago
Below is the logic why r-g matters for wealth inequality and is a reasonable thing to look at. In particular this happens in so-called "random growth theories" of wealth inequality or "theories with multiplicative shocks.&quo