Fundamentos teóricos y leyes económicas en El Capital de Piketty. Un análisis crítico

  1. Mateo, Juan Pablo
Journal:
Cuadernos de economía ( Santafé de Bogotá )

ISSN: 0121-4772

Year of publication: 2017

Volume: 36

Issue: 70

Pages: 227-249

Type: Article

DOI: 10.15446/CUAD.ECON.V36N70.58697 DIALNET GOOGLE SCHOLAR lock_openDialnet editor

More publications in: Cuadernos de economía ( Santafé de Bogotá )

Sustainable development goals

Abstract

The article conducts a critical analysis, from a political economy approach, into the theoretical model proposed in Thomas Piketty’s “Capital in the Twenty-First Century”. It highlights several inconsistencies in the causal relationships that Piketty establishes to justify the existence of fundamental laws of capitalism. We conclude that these relationships constitute forces that operate in the same space, and have been developed from psychological, technical, and scarce-related elements. They are also a result of a series of questionable assumptions about the savings rate, the elasticity of substitution, economic growth, and certain exceptions to the theory of marginal productivity.

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