Notes
What perhaps blurs the picture is that Piketty includes residential wealth (apartments etc.) in society’s capital in contrast to other consumer durables such as cars etc. which are not included. Here I abstract from any such “capital”.
References
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Fagerberg, J. Piketty’s perspectives on growth (in the 21st century). J Evol Econ 25, 533–536 (2015). https://doi.org/10.1007/s00191-015-0397-5
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DOI: https://doi.org/10.1007/s00191-015-0397-5