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Conversations with Tyler / episode intelligence

Thomas Piketty on the Politics of Equality

20 Apr 2022 16 published claims 2 attributable people
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Speakers in the public record

Thomas PikettyTyler Cowen

Claim mix

evaluation 8belief 5observation 1preference 1prediction 1

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The useful parts, with receipts.

16 published records

01 / observation

In terms of welfare, of course, as economists, you know what matters is productivity, not income per se because if you have a higher income just because you work longer hours, the effect on welfare is ambiguous.

“In terms of welfare, of course, as economists, you know what matters is productivity, not income per se because if you have a higher income just because you work longer hours, the effect on welfare is ambiguous.”
Speaker
Thomas Piketty
Publisher
Conversations with Tyler

02 / belief

The US has a much smaller government than Sweden or Denmark or France, but I think there’s a lot to learn historically from the US, including in terms of equality. And I think the enormous educational advance that was there in the US in the 19th century and the middle of the 20th century is key to understanding many of the issues I refer to.

“The US has a much smaller government than Sweden or Denmark or France, but I think there’s a lot to learn historically from the US, including in terms of equality. And I think the enormous educational advance that was there in the US in the 19th century and the middle of the 20th century is key to understanding many of the issues I refer to.”
Speaker
Thomas Piketty
Publisher
Conversations with Tyler

04 / belief

I think here, the perversity and the bad incentives come from the private sectors in all these examples, not the public sector, where you have salary scale, which in some cases could be reduced further, but which are, in general, much more reasonable than in the private sector, as far as I can see.

“I think here, the perversity and the bad incentives come from the private sectors in all these examples, not the public sector, where you have salary scale, which in some cases could be reduced further, but which are, in general, much more reasonable than in the private sector, as far as I can see.”
Speaker
Thomas Piketty
Publisher
Conversations with Tyler

05 / belief

Whereas deciding on an individual basis who is honorable, who is not honorable — it’s a very different business. And I think, indeed, that governments are not elected to do these kinds of things.

“Whereas deciding on an individual basis who is honorable, who is not honorable — it’s a very different business. And I think, indeed, that governments are not elected to do these kinds of things.”
Speaker
Thomas Piketty
Publisher
Conversations with Tyler

08 / evaluation

The problem is if you let them go in the private sector and join this completely insane level of remunerations that you observe in the private sector — this is the problem.

“The problem is if you let them go in the private sector and join this completely insane level of remunerations that you observe in the private sector — this is the problem.”
Speaker
Thomas Piketty
Publisher
Conversations with Tyler

09 / preference

I think human beings are basically good, so to speak, and the institutions are not always at the level of the human beings — partly because it’s difficult, of course, to set up the right institution.

“I think human beings are basically good, so to speak, and the institutions are not always at the level of the human beings — partly because it’s difficult, of course, to set up the right institution.”
Speaker
Thomas Piketty
Publisher
Conversations with Tyler

10 / evaluation

In fact, the increase of the relative price of real estate asset relative to, say, stock market prices or financial assets is actually relatively good overall for the middle class as compared to the very top because the middle class owns mostly real estate, whereas the top owns mostly financial and business assets.

“In fact, the increase of the relative price of real estate asset relative to, say, stock market prices or financial assets is actually relatively good overall for the middle class as compared to the very top because the middle class owns mostly real estate, whereas the top owns mostly financial and business assets.”
Speaker
Thomas Piketty
Publisher
Conversations with Tyler

11 / evaluation

To me, it’s clear that the key reason why the US has been an economic leader at the world level for most of the 20th century is because it was an educational leader.

“To me, it’s clear that the key reason why the US has been an economic leader at the world level for most of the 20th century is because it was an educational leader.”
Speaker
Thomas Piketty
Publisher
Conversations with Tyler

13 / evaluation

I think the history of equality or inequality cannot just be an economic history. It has to be a political history because, if you want to account for what you see, if you want to explain what you see, it’s political processes — sometimes revolution, sometimes tax reform, sometimes political confrontation of all sorts — play a major role.

“I think the history of equality or inequality cannot just be an economic history. It has to be a political history because, if you want to account for what you see, if you want to explain what you see, it’s political processes — sometimes revolution, sometimes tax reform, sometimes political confrontation of all sorts — play a major role.”
Speaker
Thomas Piketty
Publisher
Conversations with Tyler

14 / evaluation

I think the current European parliament is not enough because in the end, it’s really the national parliament — the German Bundestag, the French Assemblée nationale — who have the political legitimacy to make their taxpayer pay more or less tax and to take budgetary decisions.

“I think the current European parliament is not enough because in the end, it’s really the national parliament — the German Bundestag, the French Assemblée nationale — who have the political legitimacy to make their taxpayer pay more or less tax and to take budgetary decisions.”
Speaker
Thomas Piketty
Publisher
Conversations with Tyler

15 / evaluation

This is what we did almost 10 years ago. That’s not going to explain, for example, what happens at the top of the distribution because real estate is absolutely ineligible when you look at the billionaire wealth.

“This is what we did almost 10 years ago. That’s not going to explain, for example, what happens at the top of the distribution because real estate is absolutely ineligible when you look at the billionaire wealth.”
Speaker
Thomas Piketty
Publisher
Conversations with Tyler
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