Piketty

Definition

Thomas Piketty is a French economist whose work focuses on wealth and income inequality. He argues that the rate of return on capital in developed countries is persistently greater than the rate of economic growth, leading to increasing inequality.

Related terms

Capital: Assets that can generate wealth through investment or appreciation.

Economic Growth: An increase in the production of goods and services in an economy over a period of time.

Income Inequality: The uneven distribution of income within a population, leading to significant disparities in wealth and living standards.