西游杂记 2 Capitalism of 21st Century 书摘

Capitalism of 21st Century

Antarby does not encourage technological transfer. 71

Our estimates suggests, however, that these large capital gains on real estate in certain areas were largely compensated by capital losses in other areas, which became less attractive, such as smaller cities or decaying neighbourhoods. 198

The rate of return on capital is determined by the following two forces: first, technology, and second, the abundance of the capital stock. 212

The fact that wealth is noticeably less concentrated in Europe today than in the Belle Epoque is largely a consequence of accidental events and specific institutions such as taxation of capital and its income.
The overall importance of capital today, as noted, is not very difference from what it was in the eighteenth century. Only its form has changed: capital was once mainly land but is now industry, financial, and real estate.
376, 377

... A rate on the order of 80 percent on incomes over $500,000 or $1 million a year not only would not reduce the growth of the US economy but would in fact distribute the fruits of growth more widely while imposing reasonable limits on economically useless behaviour.
513

The primary purpose of the capital tax is not to finance the social state but to regulate capitalism. The goal is first to stop the indefinite increase of inequality of wealth, and second to impose effective regulation on the financial and banking system in order to avoid crises.
518

(Remark. The main concern is free economy or government control, privacy protection or regulation.)