Policy Research in Macroeconomics

Piketty’s Determinism?

Ann Pettifor and Geoff Tily
October 2014

In this review, Pettifor and Tily argue that Piketty’s determinism (which suggests that inequality will continue to rise indefinitely and that interest and growth are on a preordained trajectory) arises from a neo-classical approach to interest as the marginal product of capital.

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