Difference Between Economic Growth Rates and Treasury Interest Rates Significantly Affects Long-Term Budget Outlook - Washington Center for Equitable Growth

Must-Read: Richard Kogan et al.: Difference Between Economic Growth Rates and Treasury Interest Rates Significantly Affects Long-Term Budget Outlook

" We analyze U.S. data for the 223 years since 1792 and find that, on average, economic growth has exceeded interest rates, helping to shrink the burden of existing debt…"

This should also affect the Piketty argument that capital will rise as as share of the economy.  Though the treasury bill rate is not the same as the return on capital, it could, assuming that the increased return for taking risk and rate of depreciation cancel out.