Introduction 1 Freedom's Just Another Word  2 The Construction of Consent 3 The Neoliberal State 4 Uneven Geographical Developments 5 Neoliberalism with 'Chinese Characteristics' 6 Neoliberalism on Trial 7 Freedom's Prospect Notes Bibliography Index

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A Brief History of Neoliberalism

In this article, I present three key facts about income and wealth inequality in the long run emerging from my book, Capital in the Twenty-First Century, and seek to sharpen and refocus the discussion about those trends. In particular, I clarify the role played by r > g in my analysis of wealth inequality. I also discuss some of the implications for optimal taxation, and the relation between capital-income ratios and capital shares.

About Capital in the Twenty-First Century

A New York Times #1 Bestseller An Amazon #1 Bestseller A Wall Street Journal #1 Bestseller A USA Today Bestseller A Sunday Times Bestseller Winner of the Financial Times and McKinsey Business Book of the Year Award Winner of the British Academy Medal Finalist, National Book Critics Circle Award "It seems safe to say that Capital in the Twenty-First Century, the magnum opus of the French economist Thomas Piketty, will be the most important economics book of the year-and maybe of the decade." -Paul Krugman, New York Times "The book aims to revolutionize the way people think about the economic history of the past two centuries. It may well manage the feat." -The Economist "Piketty's Capital in the Twenty-First Century is an intellectual tour de force, a triumph of economic history over the theoretical, mathematical modeling that has come to dominate the economics profession in recent years." -Steven Pearlstein, Washington Post "Piketty has written an extraordinarily important book...In its scale and sweep it brings us back to the founders of political economy." -Martin Wolf, Financial Times "A sweeping account of rising inequality...Piketty has written a book that nobody interested in a defining issue of our era can afford to ignore." -John Cassidy, New Yorker "Stands a fair chance of becoming the most influential work of economics yet published in our young century. It is the most important study of inequality in over fifty years." -Timothy Shenk, The Nation

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Capital in the Twenty-First Century

This paper develops a dynamic general equilibrium model that is intended to help clarify the role of credit market frictions in business fluctuations, from both a qualitative and a quantitative standpoint. The model is a synthesis of the leading approaches in the literature. In particular, the framework exhibits a financial accelerator,' in that endogenous developments in credit markets work to amplify and propagate shocks to the macroeconomy. In addition, we add several features to the model that are designed to enhance the empirical relevance. First, we incorporate money and price stickiness, which allows us to study how credit market frictions may influence the transmission of monetary policy. In addition, we allow for lags in investment which enables the model to generate both hump-shaped output dynamics and a lead-lag relation between asset prices and investment, as is consistent with the data. Finally, we allow for heterogeneity among firms to capture the fact that borrowers have differential access to capital markets. Under reasonable parametrizations of the model, the financial accelerator has a significant influence on business cycle dynamics.

https://papers.ssrn.com/sol3/Delivery.cfm/nber_W6455.pdf?abstractid=226200&mirid=1

The Financial Accelerator in a Quantitative Business Cycle Framework

2 1 The innovative transport systems and the CityMobil project 10 1.1 The research questions 10 2 The state of art in the field of automatic transport systems 12 2.1 Case studies and demand studies for innovative transport systems 12 3 The design and implementation of surveys 14 3.1 Definition of experimental design 14 3.2 Questionnaire design and delivery 16 3.3 First analyses on the collected sample 18 4 Calibration of Logit Multionomial demand models 21 4.1 Methodology 21 4.2 Calibration of the “full” model. 22 4.3 Calibration of the “final” model 24 4.4 The demand analysis through the final Multinomial Logit model 25 5 The analysis of interaction between the demand and socioeconomic attributes 31 5.1 Methodology 31 5.2 Application of Mixed Logit models to the demand 31 5.3 Analysis of the interactions between demand and socioeconomic attributes through Mixed Logit models 32 5.4 Mixed Logit model and interaction between age and the demand for the CTS 38 5.5 Demand analysis with Mixed Logit model 39 6 Final analyses and conclusions 45 6.1 Comparison between the results of the analyses 45 6.2 Conclusions 48 6.3 Answers to the research questions and future developments 52

The European commission

PART I: MARKETS AND INSTITUTIONS 1. The Distribution of Earnings in Spain During the 1980s: The effects of skill, unemployment, and union power 2. Earnings Inequality in Portugal and Spain: Contrasts and similarities 3. Changes in Unemployment and Wage Inequality: An alternative theory and some evidence 4. Does Competition at School Matter? A view based on the Italian and Japanese experiences 5. The Causes of the 'Youth Employment Problem': A (labour) supply side view 6. Pareto-Improving Immigration in an Economy with Equilibrium Unemployment PART II: LIFETIME INEQUALITIES AND THE SCOPE FOR REDISTRIBUTION 7. Consumption Inequality and Income Uncertainty 8. Income Redistribution Within the Life Cycle Versus Between Individuals: Empirical evidence using Swedish panel data 9. Earnings Dispersion, Low Pay, and Household Poverty in Italy, 1977-1998 10. Changes in Home Production and Trends in Economic Inequality 11. Unequal Societies: Income distribution and the social contract 12. Unemployment, Specialization, and Collective Preferences for Social Insurance

The Economics of Rising Inequalities

11. Merit and Inheritance in the Long Run

Since 1980, many economies around the world have experienced two trends: rising aggregate private wealth-income ratio and increasing income inequality (Piketty and Zucman 2014; Piketty 2014). These trends have been particularly spectacular in China and Russia since their transitions from communism to more capitalist orientated economic systems (Piketty, Yang, and Zucman 2017; Novokmet, Piketty, and Zucman 2017). The transition to a mixed economy has taken different economic and political forms in China and Russia—with different privatization strategies for public assets, in particular. These different strategies have had a large impact on inequality and wealth ownership. In China, the transition has involved gradual but nevertheless wideranging reforms. The reforms were implemented progressively, from special economic zones in coastal cities towards inland provincial regions, and in sectoral waves. By contrast, Russia opted for a "bigbang" transition after the fall of the Soviet Union in 1990-1991, with a rapid transfer of public assets to the private sector and the hasty introduction of free market economic principles. In this paper, we compare our recent findings on private and public wealth accumulation in China and Russia, and discuss the impact of the different privatization strategies followed in the two countries on income inequality.

From Communism to Capitalism: Private Versus Public Property and Inequality in China and Russia

Comment les inégalités de revenus et de patrimoines ont-elles évoluées en France au cours du XX siècle, et comment rendre compte de ces évolutions ? Les impôts progressifs mis en place au début du XX siècle ont-ils permis une réduction importante des inégalités sur longue période ? Telles sont les questions auxquelles nous avons tenté de répondre dans un ouvrage récent, et dont nous reprenons ici les principales conclusions. Pour répondre à ces interrogations, il était indispensable de se situer à un niveau microéconomique. Il est en effet impossible d’appréhender correctement les inégalités et leur évolution en s’en tenant à des indicateurs globaux. Par exemple, ainsi que nous le verrons plus loin, la stabilité du partage global entre revenus du travail et revenus du capital au niveau macroéconomique peut masquer de profondes transformations dans la répartition de ces deux grandes masses de revenus au niveau individuel. De même, la contemplation d’indicateurs agrégés du poids de la fiscalité (part des recettes de l’impôt sur le revenu dans le PIB, décomposition des recettes en impôts « directs » et « indirects », etc.) peut conduire à de graves erreurs d’appréciation. Pour apprécier correctement le rôle redistributif joué par l’impôt, il faut commencer par étudier l’évolution de la répartition du prélèvement fiscal au

Thomas Piketty

Papers

The Economics of Rising Inequalities

11. Merit and Inheritance in the Long Run

From Communism to Capitalism: Private Versus Public Property and Inequality in China and Russia

Fiscalité et redistribution sociale dans la France du xxe siècle

Eine kurze Geschichte der Gleichheit