<i>The argument on rents is important because, if correct, it means that there is nothing intrinsic to capitalism that led to this rapid rise in inequality...</i><p>Whatever the paper shows, I&#x27;m not sure you can draw this conclusion from it. The fact that systematic inequality takes some specific form and prefers some assets over others doesn&#x27;t mean that it isn&#x27;t a feature of capitalism, only that within capitalism, not all assets behave identically. I&#x27;m not sure why you would expect them to.