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Introduction

  • Péter MihályiEmail author
  • Iván Szelényi
Chapter

Abstract

This book grew out from a partially supportive and partially critical evaluation of Thomas Piketty’s best-seller academic monograph, Capital in the Twenty-First Century. The authors’ main aim is to bring back the concept of rent, developed by David Ricardo two hundred years ago and show that inequalities cannot be explained without the concept of rent and limiting the analysis to profits and wages (as Piketty does) is theoretically false. What matters is not the extent of inequality, but its source. There is nothing generally evil about rents. There are no economies without rent. The two authors, Peter Mihályi, a macroeconomist and Iván Szelényi a sociologist take an interpretative, value-neutral position: some rents are necessary and inevitable, others are destructive.

Keywords

Cross-country and within-country inequalities D. Ricardo’s concept of rent Gini coefficient Profits and wages 

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Copyright information

© The Author(s) 2019

Authors and Affiliations

  1. 1.Department of MacroeconomicsCorvinus University of BudapestBudapestHungary
  2. 2.Central European UniversityBudapestHungary
  3. 3.Yale UniversityNew HavenUSA
  4. 4.New York UniversityAbu DhabiUAE

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