For the non-readers of pop-economics, French economist Thomas Piketty's "Capital in the Twenty-First Century," the latest wood-splitting wedge between neo-liberalism and neo-conservatism and the rest of the world, argues that wealth concentrates the longer the return on capital consistently exceeds economic growth. So macro is this thesis that is seems less like an economic prediction and more like a force of nature on the scale of Thomas Malthus on population or Adam Smith on the relationship between micro and macro economics.
Hamilton Nolan at Gawker did a fun rundown of a few of the arguments against Piketty that I recommend taking a look at. You know, in lieu of me writing anything this week.
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