Pocket Piketty by Jesper Roine
Author:Jesper Roine
Language: eng
Format: epub
Tags: Business and Economics
Publisher: OR Books
Published: 2017-08-22T04:00:00+00:00
Figure 10. The capital-labor split in Britain, 1770–2010
Piketty then attempts to estimate the size of r directly. His results for Britain and France are shown in Figures 12 and 13 (Figures 6.3. and 6.4. in Capital). The calculation is done by working out an average based on capital income from various sources. Clearly, there is a lot of variation in returns across different types of capital but in the end Piketty concludes that the average rate has fluctuated around four to five percent since the end of the eighteenth century, without any clear long-run trend in any direction.
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