If Piketty's main theoretical prediction (r>g leads to rising wealth inequality) is taken to its radical conclusion … transitional phase of increasing wealth inequality, which characterizes the current state of high-income countries: The wealth … share of capitalists rises to over 60%, the wealth-to-income ratio increases, and income inequality rises. Finally, we show …

heterogeneity. When altruism heterogeneity is low, income inequality follows an inverse U-shaped pattern relative to the level of … altruism, which is consistent with the cross-country Kuznets curve. When altruism heterogeneity is high, income inequality … linking economic growth and income inequality. …