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Les voies de la recherche cliométrique ouvertes par Le Capital au XXI e siècle

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  • Antoine Parent

Abstract

The publication of Thomas Piketty?s Capital in the 21st Century has revived interest in the issue of inequality in history. This book contains two key proposals: the author establishes a first principle of fundamental differences between the return on capital and wages, which would be the source of inequality in history. At the same time, the accumulation of capital is the factor that has historically driven economic growth. Piketty?s book explores these two aspects in succession, but he does not study the links between these two propositions: are inequalities a motor or a brake on economic growth in history? This is the thread of our analysis of the book, which examines two major questions: how to move from the statement of a ?historical law of capitalism? into a dynamic growth model? And, can savings be an obstacle to economic growth? In a final section, we suggest that the use of cliometrics can be a means of clarifying if not deciding these debates. JEL Classification: B4, E10, E11, E22, E23, E24, E61, E62, E64, N10, O4, O5, P1

Suggested Citation

  • Antoine Parent, 2018. "Les voies de la recherche cliométrique ouvertes par Le Capital au XXI e siècle," Revue de l'OFCE, Presses de Sciences-Po, vol. 0(6), pages 105-130.
    • Handle: RePEc:cai:reofsp:reof_160_0105
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    More about this item

    Keywords

    capitalism; models of economic growth; inequalities; historical law;
    All these keywords.

    JEL classification:

    • B4 - Schools of Economic Thought and Methodology - - Economic Methodology
    • E10 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - General
    • E11 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Marxian; Sraffian; Kaleckian
    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • E23 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Production
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • E64 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Incomes Policy; Price Policy
    • N10 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - General, International, or Comparative
    • O4 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity
    • O5 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies
    • P1 - Political Economy and Comparative Economic Systems - - Capitalist Economies

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