Thomas Piketty is Wrong - Paperback

by Carlos Obregon (Author)

Using empirical estimates of the long-runelasticity of substitution between capitaland labor, and analyzing the relationshipbetween the net savings rate and the realgrowth rate of the economy, it is shownthat Piketty's economic forecast for the second halfof the twenty-first century is inadequate.Then, alternative and improved forecasts are proposed.