Rising inequality of wealth and income and the risk of stagnation in modern economies occupied the minds of the gurus of mainstream macroeconomics at the annual meeting of the Allied Social Sciences Association (ASSA)/American Economics Association (AEA) – https://www.aeaweb.org/Annual_Meeting/.
The AEA/ASSA 2015 in Boston was attended by over 12,000 people and upwards of 2000 economists gave presentations. The sessions were kicked off by the star of the inequality debate, French economist, Thomas Piketty, the author of the 700 page book, Capital in the 21st century, the huge best seller of 2014 and winner of the FT’s business book of the year. He was accompanied by an array of Nobel prize-winning economists offering their angle on Piketty’s book and the impact of evidently rising inequality in wealth and incomes in the major capitalist economies over the last 30 years.
I have discussed Piketty’s work in several posts before (see my new…
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