hey folks this is really an interesting article about income inequality. here is one quote. Piketty calls the tendency for inequality to rise during periods when the rate of return on capital is higher than the economy’s rate of growth “the central contradiction of capitalism.” Of course, the logic can also run in reverse. If the rate of growth exceeds the rate of return, wages and salaries will grow more rapidly than income from capital, and inequality will fall. That’s what happened in much of the twentieth century. The problem, Piketty argues, is that this state of affairs is unlikely to be maintained. “A concatenation of circumstances . . . created a historically unprecedented situation, which lasted for nearly a century,” he writes. “All signs are, however, that it is about to end.” newyorker/arts/critics/books/2014/03/31/140331crbo_books_cassidy?currentPage=all
Posted on: Wed, 26 Mar 2014 17:15:53 +0000
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