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The main driver of inequality--returns on capital that exceed the rate of economic growth--is again threatening to generate extreme discontent and undermine democratic values. Thomas Piketty`s findings in this ambitious, original, rigorous work will transform debate and set the agenda for the...
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This paper summarizes the main findings of a recent literature that has constructed top income shares time series over … the long-run for more than 20 countries using income tax statistics. Top incomes represent a small share of the population … but a very significant share of total income and total taxes paid. Hence, aggregate economic growth per capita and Gini …
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