Repositorio
Some Fundamental Problems with Thomas Piketty’s «Capital in the Twenty-First Century»
Título
Some Fundamental Problems with Thomas Piketty’s «Capital in the Twenty-First Century»
Código de publicación
- AD-00012
Autores/as
- Juan Ramón Rallo
Clave
- Artículo de investigación
Colaboradores/as
Claves o descriptores
Descripción
- The overall conclusion of this study is that a market economy based on private property, if left to itself, contains powerful forces of convergence, associated in particular with the diffusion of knowledge and skills; but it also contains powerful forces of divergence, which are potentially threatening to democratic societies and to the values of social justice on which they are based. The principal destabilizing force has to do with the fact that the private rate of return on capital, r, can be significandy higher for long periods of time than the rate of growth of income and output, g. The inequality r> g implies that wealth accumulated in the past grows more rapidly than output and wages. This inequality expresses a fundamental logical contradiction.(Piketty 2014, 571)
Localización
Revista | libro
- The Independent Review Vol. 22, No. 4 (Spring 2018), pp. 599-607
Idioma
- Inglés
Editor
- Independent Institute
Año de publicación
- 2018
Formato
- Digital
Identificador (ISBN/ISSN)
- ISSN: 1086-1653
DOI o URI/URL
Derechos
- Abiertos
Fichero
- Disponible