thomas piketty

Canada's wealth gap is getting harder to close

In his now famous book, Capital in the Twenty-First Century, Thomas Piketty argues that there is a strong tendency for wealth to become concentrated in ever fewer hands unless the economic forces promoting greater inequality are countered by deliberate political choices.

In the case of Canada, Piketty has supplied data which shows that the stock of accumulated wealth has been growing relative to annual national income, from 247% in 1970, to 264% in 1980, to 294% in 1990, then more...

Thomas Piketty's body blow to conventional economic wisdom

During the ordinary working of capitalism – absent the extraordinary Great Wars and Great Depression of the first half of the twentieth century – inequality, as manifested in the distribution of wealth, rose over time and promises to continue to do so.

Call that distressing result Piketty’s law. 

Elucidated in his magisterial Capital in the Twenty First Century, it hearkens back to the “laws” of classical economics from the late eighteenth century (a.k.a. the political economy of Malthus, Ricardo, Marx) to the rise of neo-classical economics in the latter part of the...

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