Quantcast
Channel: vox - housing
Viewing all articles
Browse latest Browse all 16

Housing capital and Piketty’s analysis

0
0
Long Title: 
Capital is not back: A comment on Thomas Piketty’s ‘Capital in the 21st Century’
Teaser: 
Thomas Piketty’s claim that the ratio of capital to national income is approaching 19th-century levels has fuelled the debate over inequality. This column argues that Piketty’s claim rests on the recent increase in the price of housing. Other forms of capital are, relative to income, at much lower levels than they were a century ago. Moreover, it is rents – not house prices – that should matter for the dynamics of wealth inequality, and rents have been stable as a proportion of national income in many countries.
Partners: 

The impressive success of Thomas Piketty’s book (Piketty 2014) shows that inequality is a great concern in most countries. His claim that “capital is back”, because the ratio of capital over income is returning to the levels of the end of the 19th century, is probably one of the most striking conclusions of his 700 pages.

Date Published: 
Monday, June 30, 2014
Date Weighting: 
0
Show in Editors Choice Box?: 
No
Display Order: 
0

read more


Viewing all articles
Browse latest Browse all 16

Latest Images

Trending Articles





Latest Images