@techreport{31d36322d9974e5d9ec509f7d0438d23,
title = "Piketty's (r-g) Law is Pareto's Law: Consistent Analyses of Income Distribution Predicated on Inconsistent Definitions of Inequality",
abstract = "On the face of it, Pareto{\textquoteright}s law and Piketty{\textquoteright}s (r – g) law are inconsistent, with Pareto arguing that real per capita economic growth is the solution to the problem of income inequality and Piketty arguing for redistribution to be funded from a wealth tax. This study, however, establishes that when the same definition of inequality is adopted by the two scholars, Piketty{\textquoteright}s and Pareto{\textquoteright}s laws are the same economic law. It also establishes that Piketty{\textquoteright}s assertion that Pareto treats income distribution as “rock stable” overlooks the critical aspects of Pareto{\textquoteright}s law that emphasise change.",
keywords = "Pareto, Piketty, distribution, growth, inequality",
author = "Trinh, {Hong Ngoc Thao} and Michael McLure",
year = "2018",
language = "English",
series = "Economics Discussion Papers",
publisher = "UWA Business School",
number = "6",
address = "Australia",
type = "WorkingPaper",
institution = "UWA Business School",
}