If i have a small business, it's now starting in 19 86, it's advantageous and for tax reasons, to call that income rather than corporate profit. So the labor share artificially rises in the eighties, wy. But this, you should see it in capital gains a bit later. When you have a lot of retainon things beteen your corporation, at some times, you will want to get two cash capital gains out of that. And so we do, taking to account tis through a capital gains, which is a big partofo teofte overol picture.
Thomas Piketty of the Paris School of Economics and author of Capital in the Twenty-First Century talks to Econtalk host Russ Roberts about the book. The conversation covers some of the key empirical findings of the book along with a discussion of their significance.