New Theoretical Perspectives on the Distribution of Income and Wealth Among Individuals

Presented by Joseph Stiglitz, Paul Krugman, Duncan Foley, and Branko Milanovic at Columbia Law School. Inequality has become one of the major talking points amongst economists since the advent of Thomas Piketty’s book Capital in the Twenty-First Century. Piketty argues in the book that the main driver of inequality—the tendency of returns on capital to exceed the rate of economic growth—threatens to generate extreme inequalities that stir discontent and undermine democratic values. He calls for political action and policy intervention.

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