Inequality and the Rentiers
Rent-sharing in modern capitalism plays a key role on inequality increase.
🔘Why do conservative governments, from the UK to Japan, accept and even promote the creation of or the increase in the minimum wage?
🔘Why is a large share of the workforce considered as low-productivity while their competencies are improving and their work is intensifying?
🔘Why are profits still growing in the wake of economic liberalisation?
Philippe Askenazy from the CNRS proposes a personal global answer to such puzzling questions. Various determinants of rent-sharing in modern capitalism are disentangled. In particular, he analyses two mechanisms: the triumph of proprietarism and the misleading naturalisation of labour earning and productivity inequality.