Piketty’s paradox: a comparison to the Keynesian paradox of thrift

Alan Day Haight

Journal of Post Keynesian Economics, 2015, vol. 37, issue 4, 533-544

Abstract: In Piketty’s model, a fall in the growth rate causes a higher share to be saved and invested. This paradox of growth is interpreted as a dynamic version of Keynes’s paradox of saving. The familiar graph of the Keynesian paradox is modified—simply by changing the labels on the curves and axes— to illustrate both the weak and strong forms of Piketty’s paradox. Side-by-side comparisons focus on the similarities of the Pikettian equations to their somewhat Keynesian antecedents.

Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:mes:postke:v:37:y:2015:i:4:p:533-544

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DOI: 10.1080/01603477.2015.1049924

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