What understanding of capital for tomorrow?

Gaël Giraud

Documents de travail du Centre d'Economie de la Sorbonne from Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne

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: Capital; capitalism; inequality; Kaldor; Solow; capital tax (search for similar items in EconPapers)
JEL-codes: B22 B4 H20 N10 (search for similar items in EconPapers)
Pages: 29 pages
Date: 2014-09
New Economics Papers: this item is included in nep-hme, nep-hpe and nep-pbe
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ftp://mse.univ-paris1.fr/pub/mse/CES2014/14096.pdf (application/pdf)

Related works:
Working Paper: What understanding of capital for tomorrow? (2014)
Working Paper: What understanding of capital for tomorrow? (2014)
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Persistent link: https://EconPapers.repec.org/RePEc:mse:cesdoc:14096

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