Activity

[...] there’s a very interesting discourse that I quote in my book in chapter 13 by the founder of Sciences Po, and so that was right after the expanse of the commune, which was very traumatic at least for the elite, a very traumatic experience of redistribution in France. And so he has a very clea…

The total income hierarchy is then dominated by very high incomes from capital, especially inherited capital. This is the pattern we see in Ancien Régime France and in Europe during the Belle Époque,

the impression that patrimonial capitalism— which is flourishing in these early years of the twenty-first century— is something new, whereas it is in large part a repetition of the past and characteristic of a low-growth environment like the nineteenth century.