The Price and Prejudice of Piketty

Research output: Contribution to journal/periodicalArticleProfessional

Abstract

Demotrendsblog.
Piketty has much to be proud of. A mass of long-run data is presented in a consistent way documenting the development of capital and labor income as well as inequality over time. However, his long-run view is not based on the inner workings of households and firms. This aspect, as well as the lack of institutional change can generate a prejudiced view of the future. To trust his long-run view one has to trust his iron laws of economics. And at this point, the book presents a possible future which may very well suffer from blind spots.
Original languageEnglish
JournalDemotrends
Publication statusPublished - 09 Apr 2015

Keywords

  • world economy
  • Piketty
  • ageing population
  • demographic dividend

Fingerprint

Dive into the research topics of 'The Price and Prejudice of Piketty'. Together they form a unique fingerprint.

Cite this