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Jiang uses Piketty to contrast financial capital returns with real-economy returns, arguing that young people invest in assets because real work is less rewarded.
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Financial Capital
Jiang uses Piketty to contrast financial capital returns with real-economy returns, arguing that young people invest in assets because real work is less rewarded.
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"Does that make sense? So, the example is, okay, there are five restaurants in Beijing. They're obviously trying to compete against each other for..."
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"Okay? On average, if you put $100 in the stock market, you make $5. All right? But the return on the real economy is..."
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"Okay? The first idea is that America will become the financial capital of the world. America will offshore resources and manufacturing to other places...."
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