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Some problems in Piketty: An internal critique

Author

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  • Alan Tapper

    (Curtin University)

Abstract

Thomas Piketty’s evidence on wealth distribution trends in Capital in the Twenty- First Century shows that – contra his own interpretation – there has been little rise in wealth inequality in Europe and America since the 1970s. This article relates that finding to the other principal trends in Piketty’s analysis: the capital/national income ratio trend, the capital-labor split of total incomes and the income inequality trend. Given that wealth inequality is not rising markedly, what can we deduce about the putative causes that might be operating upstream? Only the capital-labor split looks like a plausible explanation of the wealth inequality trend.

Suggested Citation

  • Alan Tapper, 2016. "Some problems in Piketty: An internal critique," Journal of Income Distribution, Ad libros publications inc., vol. 24(3-4), pages 101-118, July-Dece.
    • Handle: RePEc:jid:journl:y:2016:v:24:i:1:p:101-118
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    File URL: https://jid.journals.yorku.ca/index.php/jid/article/view/40364
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    More about this item

    Keywords

    Capital/income ratio; capital-labor split; income inequality; Piketty; wealth inequality;
    All these keywords.

    JEL classification:

    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution

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