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What understanding of capital for tomorrow?

Gaël Giraud

Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) from HAL

Abstract: This paper discusses the thesis put forward by Piketty (2014a) stressing the risk of an explosion of wealth inequality because capital accumulates faster than labor income in several countries, especially in the U.US. Although the overall empirical conclusion on the rise of inequalities is indisputable, I point out that the economic modeling underlying this approach exhibits several important shortcomings. Moreover, there are more effective policy recommendations to fight against inequality than the one highlighted in the book —namely, a world-wide global tax on capital.

Keywords: capitalism; inequality; capital tax; capital; capitalisme; inégalité; Kaldor; Solow; taxe sur le capital (search for similar items in EconPapers)
Date: 2014-12
New Economics Papers: this item is included in nep-hpe
Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-01151593v1
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Published in 2014

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Working Paper: What understanding of capital for tomorrow? (2014) Downloads
Working Paper: What understanding of capital for tomorrow? (2014) Downloads
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