Publication Date

6-15-2019

Document Type

Working Paper

Advisor

Professor John Hall

Journal of Economic Literature Classification Codes

D63, P10, Y30

Key Words

Capital, Economics, Inequality, Thomas Piketty, Wealth Distribution

Abstract

This inquiry seeks to establish that, in his Capital in the Twenty-First Century, Thomas Piketty advances ideas concerning the origins and implication of economic inequality. Piketty commences his inquiry by considering and detailing wage differences amongst distinct classes of society. This mechanism for the distribution of income is compared across selected nations, and the differing tendencies over time are examined in detail. Distinct from working wages, Piketty considers income effects associated with capital ownership. Adding to this, Piketty shows that effects of inheritance need be considered as capital is passed to successive generations, thereby allowing the accruing of monetary gains to beneficiaries wholly independent of their labor inputs.

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