Thomas piketty joined economists paul krugman, joseph stiglitz and steven durlauf in new york last week to talk about his new landmark book, capital in the twentyfirst century. Apr 23, 2014 the french economist thomas piketty paris school of economics discussed his new book, capital in the twentyfirst century at the graduate center. Steven durlauf, a uwmadison economics professor, studies the causes and consequences of inequality, and hes a prominent skeptic of pikettys work. Lawrence blume and steven durlauf criticized the book in the journal of political economy for being unpersuasive when it turns from description to. Steven neil durlauf is the steans professor in educational policy at the university of chicago harris school of public policy. Returns on capital bigger than the rate of growth could cause extreme inequalities. Apr 04, 2014 mystery of mounting inequality might find answer in brandnew tome jacob goldstein from the planet money team. And it is beyond genuinely surprising that steve durlauf thinks that bill gatess wealth was acquired by merit and john d. Piketty is mostly known as a researcher of income inequality. He is currently steans professor of educational policy at the harris school of public policy studies at the university of chicago. This event brought together a panel of three leading economiststhomas piketty, kevin murphy, and steven durlauf to discuss the sources of the rise in. Paul krugman burst into an office at the cuny graduate center one recent evening with a pronunciation question. Pikettys contribution has been to gather evidence on longterm trends on the concentration of income and wealth in 20 nations in his bestselling book capital in the 21st century. Paul krugman professor, nobel prize in economics, princeton university.
He is coeditor of nine books, is currently codirector of the human capital and economic opportunity global working group, is editor of the journal of economic literature, and was general. Piketty 2007, and, most recently, in a num of the book. Between 1950 and 1980, we have a distribution with about 30 to 35 percent of national income going to the top 10 percent of earners. Piketty shows that inequality of wealth and income is inherent to capitalism and it. Why are economists giving piketty the cold shoulder.
Rockefellers by monopoly when they are both winners in. Here you can watch a presentation and discussion with piketty at the graduate centre, cnuy, featuring j oseph stiglitz columbia university, paul krugman princeton university, and steven durlauf university of wisconsinmadison, and branko milanovic on 23 april. But for our purposes of imagining how we might build a. In this landmark work, piketty argues that the main driver of inequalitythe tendency of returns on capital to exceed the rate of economic growththreatens to generate extreme inequalities that stir discontent and undermine democratic values. Joseph stiglitz columbia university, paul krugman princeton university, and steven durlauf university of wisconsinmadison participated in a panel moderated by lis senior. It was initially published in french as le capital au xxie siecle in august 20. Explaining inequality the university of chicago campaign. Inegalites et redistributions, 19011998, published in 2001, was the basis for several influential papers published in the leading american economic journals. For the first time the editors have brought together the perspectives of economics, economic history, and sociology to assess what we. Both of us are very liberal in the contemporary as opposed to classical sense, and we regard ourselves as egalitarians. Also, thomas piketty paris school of economics discussed his new book, capital in the twentyfirst century at the graduate center at the city university of new york.
The economist was a rock star thomas piketty isnt just a brilliant economist. Steven durlauf, a uwmadison economics professor, studies the causes and consequences of inequality, and hes a prominent skeptic of piketty s work. Equitable growth supports research and policy analysis on how trends in economic inequality and mobility and changes in the economy have affected the concentration of wealth, income, and earnings, and how these distributional shifts have affected. Lawrence blume and steven durlauf wrote, capital is, nonetheless. His most important substantive contributions involve the areas of poverty, inequality and economic growth. Apr 28, 2014 panel discussion led by thomas piketty, author, capital in the twentyfirst century, who discusses economic growth, returns on capital, and inequality with. Paul krugman princeton university, and steven durlauf university. Mystery of mounting inequality might find answer in brandnew tome jacob goldstein from the planet money team. Young himself was deeply critical of the development he identi. Joseph stiglitz who has won two and paul krugman, along with steven durlauf, an economist at the. The book has provoked debate and helped make inequality a central theme in the.
By masanao aoki and hiroshi yoshikawa, economica, london school of economics and political science, vol. Steven neil durlauf born august 12, 1958 is an american social scientist and economist. Path dependence in aggregate output, industrial and corporate change, vol 31, pages 149171. Mystery of mounting inequality might find answer in brand. Apr 17, 2014 o n wednesday evening, piketty was in new york, on a panel at cuny with more nobelists. Understanding inequality and what to do about it youtube. Thomas piketty on his new book, capital in the 21st century. Steven durlauf vilas research professor, university of wisconsinmadison.
Heres steven durlauf, of the university of wisconsin. Capital in the twentyfirst century graduate center, cuny. His book les hauts revenus en france au xxe steele. Durlaufs research spans many topics in microeconomics and macroeconomics. Capital in the twentyfirst century is a 20 book by french economist thomas piketty. Christensen professor of economics at the university of wisconsinmadison. Introduction i am hesitant to call thomas pikettys new book capital in the twentyfirst century le capital au xxi e siecle in the french original one of the best books on economics written in the past several decades. This book is a collection of articles written by leading economists responding to thomas pikettys magnum opus, capital in the twentyfirst century. O n wednesday evening, piketty was in new york, on a panel at cuny with more nobelists. Edited by kenneth arrow, samuel bowles, and steven durlauf. Now if you really want to dig into the details, piketty s book weighs in at more than 1,000 pages.
Nov 20, 2019 lawrence blume and steven durlauf wrote, capital the noted book is, nonetheless, unpersuasive when it turns from description to analysis. Despite pikettys resonance with the public, his book was mostly. Economic growth the new palgrave economics collection series by steven durlauf. In poverty traps, samuel bowles, steven durlauf, karla hoff, and the book s other contributors argue that there are many conditions that may trap individuals, groups, and whole economies in intractable poverty. I think they may have taken the bait piketty dangled in front of the economics profession by couching his explanation for inequality dynamics over time in the costume of neoclassical macroeconomics. There is hard data that shows that a centrist democrat. Most americans strongly favor equality of opportunity if not outcome, but many are weary of povertys seeming immunity to public policy. Pikettys reinterpretation of the 20thcentury economic history of capitalism sharply contrasts with interpretations of the same period in some influential recent books by top economists and economic historians like david landes the wealth and poverty of nations 1999, angus deatons the great escape 20, gregory clarks a farewell to alms 2011, and daron. Thomas pikettys new book capital in the twentyfirst century will be the sunday may 11 book salon here at fdl, but tonight hes with economists paul krugman, steven durlauf and joseph stiglitz. Specially selected from the new palgrave dictionary of economics 2nd edition, each article within this compendium covers the fundamental themes within the discipline and is written by a leading practitioner in the field.
Thomas piketty on his new book, capital in the 21st. Durlauf is the steans professor in educational policy at the harris school, university of chicago. Janet gornick director, luxembourg income study center, the graduate centercuny. Apr 15, 2014 thomas piketty joined economists paul krugman, joseph stiglitz and steven durlauf in new york last week to talk about his new landmark book, capital in the twentyfirst century. Reviews of thomas pikettys capital habermas and rawls. There is hard data that shows that a centrist democrat would. Branko milanovic senior scholar, luxembourg income study center, the graduate centercuny. Blume and durlauf explain that the book s empirical claims suffer from conceptual. Capital in the twentyfirst century wikimili, the best.
In this landmark work, piketty argues that the main driver of inequalitythe tendency of returns on capital to exceed the rate of economic growththreatens to generate extreme inequalities that. Thomas pikettys capital in the twentyfirst century wikipedia. The french economist thomas piketty paris school of economics discussed his new book, capital in the twentyfirst century at the graduate center. Following up on my this is an excellent overview of the many topics related to inequality being explored at the moment. Arrow professor of economics at the university of wisconsinmadison. Capital in the twentyfirst century archives page 2 of 3. This helps to explain the recent attention paid to cultural and genetic explanations of persistent poverty, including claims that economic inequality is a function of intellectual ability, as well as more subtle depictions of the united states as a.
It makes big, sweeping claims about history and the nature of capitalism. Mystery of mounting inequality might find answer in brandnew. Inequality plays a prominent role in our public discourse these days. It is genuinely surprising to me that kevin murphy thinks that katz and murphy 1992 is still close to the last word on inequality. The french economist thomas piketty paris school of economics will present a lecture on his new book, capital in the twentyfirst century.
Joseph stiglitz, paul krugman, and steven durlauf participated in a panel moderated by branko milanovic at the graduate center, cuny. The main driver of inequality the tendency of returns on capital to exceed the rate of economic growth today threatens to generate extreme inequalities that stir discontent and undermine democratic values. The book has provoked debate and helped make inequality a central theme in the 2016 u. Thomas piketty s new book capital in the twentyfirst century will be the sunday may 11 book salon here at fdl, but tonight hes with economists paul krugman, steven durlauf. Apr 17, 2014 the economist was a rock star thomas piketty isnt just a brilliant economist. Pikettys book is now 22 april an international bestseller. In the book, piketty relies on a paper by loukas karabarbounis and brent neiman that estimated a high marginal elasticity of substitution given two sets of facts. Steven durlauf is vilas research professor and kenneth j. Apr 14, 2014 on april 16 at 6pm est, watch piketty join joseph stiglitz columbia university, paul krugman princeton university and steven durlauf university of wisconsinmadison in conversation at a. In this landmark book, piketty argues that the main driver of inequalitythe tendency of returns on capital to exceed the rate of economic growththreatens to generate extreme inequalities that stir. It focuses on wealth and income inequality in europe and the united states since the 18th century. Journal of economic literature 2014, 52 2, 519534 519 1. The book quickly became ammunition for advocates of egalitarianenhancing policies on.
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