106. In Germany, estate tax is half that of France -- 15-20% - page 374
107. Piketty claims capital was once land but is now industrial, financial and real estate, but isn't Real Estate mostly land? -- page 377
108. In the 21 century, one can be a small or medium rentier and a super-manager -- page 378
109. Lower mortality in second half of 20th century partly explains lower inheritance rate -- page 387
110. "The logic of r>g implies that an entrepreneur always tends to turn into a rentier." -- pages 395, 411, 420. This contradicts his earlier statement that rent-seeking has given way to running businesses and being a super-manager.
111. Tax competition among nations and regions can lead to inequality and slower growth -- page 422
112. Rent has been redefined by the 20th century as "income on any capital" -- rent, interest, dividends, profits, royalties -- page 422
113. Rent is now simply return based on ownership, independent of any labor. Rentier has now become an insult -- page 423
114. Piketty makes no distinction between rent on land and rent on true manmade capital -- page 424
115. Inherited wealth likely 50-60% of private capital -- page 428
116. Slowing of population growth means inherited wealth will become more important -- page 428
117. Forbes showed billionaires increased from 5 per million (1987) to 30 per million (2013), from .4% to 5% - page 433
118. Top 1% owns 50% of global wealth -- page 438
119. Merit alone cannot account for wealth inequality and money grows on its own, independent of owner merit -- page 443
120. Entrepreneurs turn into rentiers -- page 443
121. Inflation is not detrimental to assets if it is low and assets are invested wisely -- page 453
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