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Economic Size and Debt Sustainability against Piketty's "Capital Inequality"

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  • Hyejin Cho

    (CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique)

Abstract

This article presents a methodology designed to facilitate alternative variables measuring economic growth. A capital-labor split of Cobb-Douglas function is adapted for use in the context of economic growth. A capital/income ratio and two fundamental law of capitalism originated by Thomas Piketty illustrate capital inequality undervalued than labor inequality. In addition, the article includes export and external debt as strong alternatives. Empirical data of the World Bank are analyzed to demonstrate broad differences in economic sizes. The case analysis on Latin America as an example of different sized economy is also discussed.

Suggested Citation

  • Hyejin Cho, 2015. "Economic Size and Debt Sustainability against Piketty's "Capital Inequality"," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-01068227, HAL.
    • Handle: RePEc:hal:cesptp:hal-01068227
    Note: View the original document on HAL open archive server: https://hal.science/hal-01068227v2
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    Cited by:

    1. Yasunori Fujita, 2015. "A new look at fiscal sustainability: an attempt to reveal the relationship between the sustainability of external debt and the inequality," Economics and Business Letters, Oviedo University Press, vol. 4(4), pages 161-165.

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