Posts tagged 'Inequality'

Robots won’t make you rich (for long)

We commented yesterday on a column by Martin Wolf that considers how the economy will change as robots become ever more intelligent. The rise of the machines will indeed present society with multifaceted challenges; super-rich robot owners, however, are unlikely to represent one of them.

The fear of exploding inequality from robots is widespread. Wolf writes: Read more

Not All Forms of Wealth Are Equally Pernicious

Ryan Avent takes issue with my take on Piketty. He makes two points, which I’ll address in turn.

First, the French data [Smith] considers is a bit of an outlier. You can download Mr Piketty’s data tables (in French) here and see the figures for Britain and America. In Britain the recent rise in the capital-income ratio is about two-thirds attributable to housing and one-third attributable to other domestic capital. In America growth in other domestic capital is actually more important than growth in housing. Read more

Piketty previews Piketty

A hat tip to reader @zapatique for sending us to Thomas Picketty’s recent lecture, which previews the forthcoming English-language edition of his new book (click here to open pdf):

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