I certainly agree that capital is not a one-dimensional object, and that the return on capital takes very different forms for different assets or different people. Thomas Piketty agreeassetcapital Change image and share on social
Market forces and capitalism by themselves aren't sufficient to ensure the common good and to limit the concentration of wealth at levels that are compatible with democratic ideals. Thomas Piketty capitalismcommoncompatible Change image and share on social
One way to have broader access to wealth is to reduce the tax on the large group and increase the tax on the very top so concentration of wealth doesn't get to extreme levels. Thomas Piketty accessbroadconcentration Change image and share on social
Private property and the market system are good not only to promote innovation and to promote growth; private property and the market system are good for our personal freedom. Thomas Piketty freedomgoodgrowth Change image and share on social
Economists should be modest and be aware that they are part of the broader social science community. We need to be pragmatic about the methods we use. When we need to do history, we should do history. When we need to study political science, we should study political science. Thomas Piketty awarebroadcommunity share on social
I don't pretend that I can predict the future value of the growth rate or rate of return. Thomas Piketty futuregrowthpredict Change image and share on social
Yeah, I am in favor of migration. But I am also in favor of education. But at the same time, I am in favor of progressive taxation. I think we need all of this. I think we don't have to choose one. Thomas Piketty chooseeducationfavor Change image and share on social
Having a decent share of the national wealth for the middle class is not bad for growth. It is actually useful both for equity and efficiency reasons. Thomas Piketty badclassdecent Change image and share on social
Economists tend to think they are much, much smarter than historians, than everybody. And this is a bit too much because at the end of the day, we don't know very much in economics. Thomas Piketty bitedayeconomics Change image and share on social
Capitalism and market forces are very powerful in producing wealth and innovation. But we need to ensure that these forces act in the common interest. Thomas Piketty actcapitalismcommon Change image and share on social