Daron Acemoglu on Inequality, Institutions, and Piketty
EconTalk
00:00
What's Wrong With Capitalism?
Pickety is a new book about the theory of capitalism. He argues that rate of return on capital (r) will always be greater than g. Holders of capital will see their well being rise at faster rate than rest of economy. And therefore inequality will grow inexorably, he says. But r minus g doesn't do so much of a great job in explaining inequality or inequality trend.
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