Friday, April 25, 2014

Capital Man - The Chronicle of Higher Education

"Piketty’s argument recently got an indirect boost from a much-discussed study published in February by the International Monetary Fund, hardly a radical body. The study, a multicountry analysis of income inequality, found not only that there is 'scant evidence that typical efforts to redistribute'—taxes and credits—'have on average had an adverse effect on growth,' but that lower inequality was generally associated with faster growth.' As Jonathan D. Ostry, the study’s lead author, put it in an email to me, 'this logic was indeed an eye opener for us.'"

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