I think this is a very powerful point. I can't deny it. The argument put forward by thomas pickerty has had huge influence because, in fact, it's just common sense. You only invest if the rate of return on capital exceedseo the level of economic growth. So there is, there is a kind of a priori truth about this. My own view is that it is not that inequality does not matter as long as institutions are in place which control how that wealth is used.

Get the Snipd
podcast app

Unlock the knowledge in podcasts with the podcast player of the future.
App store bannerPlay store banner

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode

Save any
moment

Hear something you like? Tap your headphones to save it with AI-generated key takeaways

Share
& Export

Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode