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Piketty, Stiglitz and Our Renewed Interest in Inequality

Joseph E. Stiglitz, Ph.D

(original source Huff Post)

“The publication in 2014 of Thomas Piketty’s Capital in the Twenty-First Centurybrought inequality to the center of the public policy debate.

Looking at lots of historical data, he finds that the return on capital is always higher than economic growth. That means that those who own capital will do better than the rest. The rich will not just get richer, but they will also get richer than everyone else. In capitalism, if governments do nothing, wealth is bound to concentrate among the few.”

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