Thursday, April 24, 2014

Rich Get Richer not quite the Fairy tale of capitalism

It was a very pleasant surprised to read Mihir Shah's Fairy Tale Capitalism today after my entry just yesterday. For example,
In slowly growing economies, past wealth takes on a disproportionately higher importance. Inherited wealth grows faster than overall output and income.
Exponential growth has obvious limitations; so, the growth has to slow down.

Thomas Piketty is striking a chord :) Hopefully, the interest generated will result in political changes forcing the politicians to bite the hands which feed them

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