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Piketty’s Capital, His Critics and Basic Income

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  • Lo Vuolo Rubén M.

    (Buenos Aires, Argentina)

Abstract

Among other merits, Piketty’s book puts the topic of inequality and income/wealth concentration in the public agenda. His analysis concludes that aggregate income and wealth have tended to concentrate in the top few percentiles of the population. His research as well as the policy and political debate it has brought about, is relevant for the progress of the Basic Income movement. The tendencies for income and wealth concentration, the importance of inheritance for inequality, the weak foundations of current welfare state institutions, and the relevance of the tax structures for redistribution, all are central themes on the Basic Income debate. In this article, the author discusses certain aspects of Piketty’s Capital which are particularly relevant for the Basic Income debate. Taking into account some of the criticisms of Piketty’s work, the article discusses the importance of his main findings for the Basic Income debate.

Suggested Citation

  • Lo Vuolo Rubén M., 2015. "Piketty’s Capital, His Critics and Basic Income," Basic Income Studies, De Gruyter, vol. 10(1), pages 29-43, June.
    • Handle: RePEc:bpj:bistud:v:10:y:2015:i:1:p:29-43:n:5
    DOI: 10.1515/bis-2015-0013
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    References listed on IDEAS

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    1. Piketty, Thomas & Zucman, Gabriel, 2014. "Wealth and Inheritance in the Long Run," CEPR Discussion Papers 10072, C.E.P.R. Discussion Papers.
    2. Offe Claus, 2008. "Basic Income and the Labor Contract," Basic Income Studies, De Gruyter, vol. 3(1), pages 1-30, July.
    3. James K. Galbraith & J. Travis Hale, 2014. "The Evolution of Economic Inequality in the United States, 1969-2012 : Evidence from Data on Inter-industrial Earnings and Inter-regional Incomes," World Economic Review, World Economics Association, vol. 2014(3), pages 1-1, February.
    4. Daron Acemoglu & James A. Robinson, 2015. "The Rise and Decline of General Laws of Capitalism," Journal of Economic Perspectives, American Economic Association, vol. 29(1), pages 3-28, Winter.
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