A Discussion of Thomas Piketty's Capital in the Twenty-First Century: Does More Capital Increase Inequality?

Maxim Pinkovskiy

No 20150715, Liberty Street Economics from Federal Reserve Bank of New York

Abstract: My aim in the second post of this series on Thomas Piketty's Capital in the Twenty-First Century is to talk about the economist's research accomplishment in reconstructing capital-output ratios for developed countries from the Industrial Revolution to the present and using them to explain why wealth inequality will rise in developed countries. I will then provide a critical discussion of his interpretation of the history of capital in the developed world. Finally, I'll end by discussing Piketty's main policy proposal: the global tax on capital.

Keywords: Piketty; depreciation; capital-output ratio (search for similar items in EconPapers)
JEL-codes: E2 N2 R3 (search for similar items in EconPapers)
Date: 2015-07-15
New Economics Papers: this item is included in nep-his, nep-hpe and nep-mac
References: Add references at CitEc
Citations:

Downloads: (external link)
https://libertystreeteconomics.newyorkfed.org/2015 ... -increase-inequ.html Full text (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:fip:fednls:87046

Ordering information: This working paper can be ordered from

Access Statistics for this paper

More papers in Liberty Street Economics from Federal Reserve Bank of New York Contact information at EDIRC.
Bibliographic data for series maintained by Gabriella Bucciarelli ().