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Lecture 11 Inequality

Summary:
Thomas Piketty’s Capital has rightly focused attention on economic inequality, but his explanation of why it occurs is not compelling. I explain the simple “network” effect behind inequality in phenomena from earthquakes to income and then outline work by myself, Matheus Grasselli and Gael Giraud that argues that rising inequality is a sign of impending ...

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Thomas Piketty’s Capital has rightly focused attention on economic inequality, but his explanation of why it occurs is not compelling. I explain the simple “network” effect behind inequality in phenomena from earthquakes to income and then outline work by myself, Matheus Grasselli and Gael Giraud that argues that rising inequality is a sign of impending economic breakdown.


Steve Keen
Steve Keen (born 28 March 1953) is an Australian-born, British-based economist and author. He considers himself a post-Keynesian, criticising neoclassical economics as inconsistent, unscientific and empirically unsupported. The major influences on Keen's thinking about economics include John Maynard Keynes, Karl Marx, Hyman Minsky, Piero Sraffa, Augusto Graziani, Joseph Alois Schumpeter, Thorstein Veblen, and François Quesnay.

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