This economist argued that the Kuznets curve only appeared correct because of punitive taxes and political upheaval in the first half of the 20th century. Critically, this economist's theory assumes that elasticity between factors of production is high, disadvantaging labor. This economist argued th
This economist argued that the Kuznets curve only appeared correct because of punitive taxes and political upheaval in the first half of the 20th century. Critically, this economist's theory assumes that elasticity between factors of production is high, disadvantaging labor. This economist argued that the economy should not rely on the "caprices of technology" to ensure a fair society in a book that cites Pere Goriot as an example of the "patrimonial capitalism" that will return. He argued that the life-cycle savings model is incorrect, and instead summed up his observations about accumulation with the empirical inequality (*) r > g ["r is greater than g"]. In a recent book, this economist proposed a global wealth tax and progressive taxes of up to 80% in order to reduce income inequality. For 10 points, name this French author of Capital in the Twenty-First Century.
This economist argued that the Kuznets curve only appeared correct because of punitive taxes and political upheaval in the first half of the 20th century.
Thomas Piketty