larrysummers.com/piketty-book-review-the-inequality-puzzle/ ↗

Criticized by Larry Summers

• Capital in the Twenty-First Century

  Capital in the Twenty-First Century

  Thomas Piketty

  “It presumes, first, that the return to capital diminishes slowly, if at all, as wealth is accumulated and, second, that the returns to wealth are all reinvested. Whatever may have been the case historically, neither of these premises is likely correct as a guide to thinking about the American economy today.”