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La critique du capital au XXIè sicècle

Listed author(s):
  • Guillaume Allegre

    ()

    (OFCE - OFCE - Sciences Po)

  • Xavier Timbeau

    ()

    (OFCE - OFCE - Sciences Po)

Dans son ouvrage Le capital au XXIe siècle, Thomas Piketty propose une analyse critique de la dynamique de l’accumulation du capital. L’auteur montre que si le rendement du capital (r) est plus élevé que la croissance économique (g), ce qui a pratiquement toujours été le cas dans l’histoire, alors il est presque inévitable que les patrimoines hérités dominent les patrimoines constitués et que la concentration du capital atteigne des niveaux extrêmement élevés. Le livre cherche ainsi des fondements macroéconomiques (r>g) aux inégalités alors que les explications habituelles sont d’ordre micro-économique. Nous soulignons que l’on peut interpréter les faits décrits selon une causalité différente où les inégalités découlent du fonctionnement (imparfait) des marchés, des rentes de rareté et de l’établissement des droits de propriété. Selon cette interprétation, ce n’est pas r>g qui a transformé les entrepreneurs en rentiers, mais la mise en place de mécanismes permettant l’extraction d’une rente perpétuelle qui explique la constance historique r>g. Cette interprétation différente des mêmes phénomènes a des conséquences en termes de politique publique. L’imposition ex post du capital, si nécessaire, ne peut être qu’un choix de second rang : il faut d’abord lever les contraintes de rareté et se préoccuper de la définition des droits de propriété ainsi que des droits des propriétaires et des non-propriétaires

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File URL: https://hal-sciencespo.archives-ouvertes.fr/hal-01140572/document
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Paper provided by HAL in its series Post-Print with number hal-01140572.

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Date of creation: Apr 2015
Publication status: Published in Varia, 2015, pp.30-55
Handle: RePEc:hal:journl:hal-01140572
Note: View the original document on HAL open archive server: https://hal-sciencespo.archives-ouvertes.fr/hal-01140572
Contact details of provider: Web page: https://hal.archives-ouvertes.fr/

References listed on IDEAS
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  1. Xavier Timbeau, 2013. "Comment construire (au moins) 1 million de logements en région parisienne," Revue de l'OFCE, Presses de Sciences-Po, vol. 0(2), pages 315-340.
  2. Milanovic, Branko, 2009. "Global inequality and the global inequality extraction ratio: the story of the past two centuries," Policy Research Working Paper Series 5044, The World Bank.
  3. Thomas Piketty, 2013. "Le capital au XXIe siècle," Post-Print halshs-00979232, HAL.
  4. Paul Krugman, 1998. "Space: The Final Frontier," Journal of Economic Perspectives, American Economic Association, vol. 12(2), pages 161-174, Spring.
  5. Milanovic, Branko, 2009. "Global inequality and global inequality extraction ratio: The story of the last two centuries," MPRA Paper 16535, University Library of Munich, Germany.
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