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A comment on Billionaires amass more through inheritance than wealth creation, says UBS. Parent comment

Re:Billionaires amass more through inheritance than wealth c... by seydor on Friday December 01, 2023 @01:22PM (#38490271)
Piketty's claim seems empirically obvious, but also virtually obvious to anyone who has created a gaming economy. The rich get richer faster than anyone can catch up, so you have to introduce artificial constraints like increasing prices for rich people.
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Re:Billionaires amass more through inheritance than wealth c... by iNic on Friday December 01, 2023 @01:53PM (#38490656)
As I said in a different comment in this thread, Piketty's claim does not hold for all capital, it only holds for land. This is perfectly in line with theoretical predictions by David Ricardo[1]. The solution to this is a Land Value Tax as proposed by Henry George[2].

[1]: https://en.wikipedia.org/wiki/Law_of_rent [2]: https://en.wikipedia.org/wiki/Land_value_tax

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