Thomas Piketty is Wrong

by Carlos Obregón

Using empirical estimates of the long-runelasticity of substitution between capitaland labor, and analyzing the relationshipbetween the net savings rate and the realgrowth rate of the economy, it is shownthat Piketty's economic forecast for the second halfof the twenty-first century is inadequate.Then, alternative and improved forecasts are proposed.

62 pages, Paperback

Published December 14, 2015