Thomas Piketty argued in his popular book Capital that R > G. Namely, that the rate of return on capital consistently exceeds the economic growth rate. *Cue Karl Marx vigorously nodding.* Over time, this has led to extreme levels of wealth concentration. His formula was in my head this week as we saw extreme contrast in two data points:
In recent earning…
Keep reading with a 7-day free trial
Subscribe to The Leverage to keep reading this post and get 7 days of free access to the full post archives.