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Separating Efficiency And Equality, Automation, And Piketty'S Theory Of Increasing Capital Share

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  • Yew-Kwang Ng

Abstract

type="main"> Despite disincentive effects, it is more efficient to tackle inequality by general equality promotion policies, including tax/transfers, than by trying to pursue equality in specific issues or policies. The latter policy also has the same degree of disincentive effects as the general policy but has additional distortive effects. While Piketty' concern with inequality is well taken and his proposal to reduce inequality has merits, his argument on the inevitability of increasing capital share under capitalism and the condition of rate of returns to capital being larger than the rate of growth in incomes (r > g) is not correct. (JEL D3, D6, H)

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  • Yew-Kwang Ng, 2016. "Separating Efficiency And Equality, Automation, And Piketty'S Theory Of Increasing Capital Share," Contemporary Economic Policy, Western Economic Association International, vol. 34(3), pages 396-398, July.
    • Handle: RePEc:bla:coecpo:v:34:y:2016:i:3:p:396-398
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    File URL: http://hdl.handle.net/10.1111/coep.2016.34.issue-3
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    Cited by:

    1. Riccardo De Bonis, 2016. "What Piketty said in Capital in the Twenty-first Century and how economists reacted," Mo.Fi.R. Working Papers 130, Money and Finance Research group (Mo.Fi.R.) - Univ. Politecnica Marche - Dept. Economic and Social Sciences.

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    JEL classification:

    • D3 - Microeconomics - - Distribution
    • D6 - Microeconomics - - Welfare Economics

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