Sunday, October 5, 2014

DPI-235 Lecture 8: Is the Concentration of Wealth Among the Few Inevitable?

Readings:

Branco Milanovic. “The return of “patrimonial capitalism”: review of Thomas Piketty’s Capital in the 21st century.” http://mpra.ub.uni-muenchen.de/52384/1/MPRA_paper_52384.pdf Groups 1-3


Thomas Piketty. Chapters 14 and 15 of Capital in the Twenty-First Century (Harvard University Press, 2014). Groups 1-2 Chapter 14; Group 3 Chapter 15
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2 comments:

  1. gillan15October 17, 2014 at 12:58 PM

    Terribly argued piece here from Obama's economic adviser. Obviously g "can" be greater than r. But with equity returns having averaged about 7% over the last 20 years, growth at about 3% and middle class wages stagnant - not sure he has a leg to stand on..

    http://blogs.wsj.com/economics/2014/10/17/obamas-top-economist-questions-thomas-pikettys-inequality-claims/?KEYWORDS=obama+top+economist

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  2. gillan15October 17, 2014 at 1:02 PM

    Gates agreeing with Piketty here. Calling for higher taxes on rich and more estate tax. Does acknowledge however that many billionaires are self made not inherited.
    Interestingly Gates wealth is clear example of r<g as net worth has gone from 50bn to almost 80bn since 2000 - a period in which he has also given billions towards philantrophic causes. A good scalp to have in the Piketty camp!

    http://www.huffingtonpost.com/2014/10/14/bill-gates-thomas-piketty_n_5985800.html

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