The concept of accelerated capital accumulation and its applications

 
PIIS086904990011443-9-1
Publication type Article
Status Published
Authors
Occupation: Director, Chief Researcher
Affiliation:
Center for Macroeconomic Research in the Financial University under the Government of the Russian Federation
Central Economics and Mathematics Institute of the Russian Academy of Sciences
Address: 4th Veshnyakovsky ass., Moscow, 109456, Russian Federation
Journal nameObshchestvennye nauki i sovremennost
EditionIssue 1
Pages119-133
Abstract

The article discusses the concept of accelerated capital accumulation proposed by the French economist T. Piketty. The different wording and content of the three laws of capitalism is discussed, and their logical linking is made. It is shown that the three laws contain a feature of self-regulation of capital accumulation. The author reveals the mechanism of the growth of social inequality as a result of the contradiction between the first law of capitalism and the effect of scale. A model of personal success containing four explanatory elements generalized, including the factor of Piketty is suggested.

Keywordscapital, economic growth, return of capital, inequality
Received11.09.2020
Publication date29.01.2018
Number of characters587
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