MR. PIKETTY AND THE "NEOCLASSICS": A SUGGESTED INTERPRETATION

This essay is an attempt to build a bridge between Thomas Piketty's arguments in Capital in the Twenty-First Century and modern neoclassical economics. This is done by deconstructing the variables and mathematical expressions used by Piketty to define specific economic phenomenon, examining the...

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Bibliographic Details
Published in:National tax journal 2015-06, Vol.68 (2), p.393-408
Main Author: DeLong, J. Bradford
Format: Article
Language:English
Subjects:
21st century
Capitalism
Classical economics
Economic growth rate
Economic theory
Economics
Economists
Forum: Income and Wealth Inequality
Income inequality
Income shares
Macroeconomics
Neoclassical economics
Net profits
Steady state economies
Studies
Wealth
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Summary:This essay is an attempt to build a bridge between Thomas Piketty's arguments in Capital in the Twenty-First Century and modern neoclassical economics. This is done by deconstructing the variables and mathematical expressions used by Piketty to define specific economic phenomenon, examining the historical periods that Piketty has focused on in Capital, and using the results from the previous analyses to critique Piketty's arguments in Capital in the Twenty-First Century within a modern neoclassical economics framework.
ISSN:0028-0283
1944-7477
DOI:10.17310/ntj.2015.2.07