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French Economist Piketty Links Inequality to Instability of Democracies

Written by Rakotomalala On 21 April 2014 @ 19:00 pm | No Comments

In Development, Economics & Business, Education, English, France, French, Greece, Ideas, Labor, North America, Photos, Politics, Quick Reads, U.S.A., Western Europe

French economist and Associate Chair at the Paris School of Economics [1], Thomas Piketty [2] recently published a book [3] called “Capital in the Twenty-First Century [4]” that has generated quite a buzz [5] among fellow economists and political leaders. Piketty's central thesis is that inequality is not an accident [3], but one of the consequences of the excess of capitalism. Piketty also opines that inequality could threaten the democratic process [5] as recently seen in Greece [6]. Critics of his thesis on inequality also abound [7]

Increase in the annual income of the top 1% of wealthy persons in the U.S. before economic crises using data initially published as Thomas Piketty and Emmanuel Saez (2003) on wikimedia commons CC-NC-3.0 [8]

Increase in the annual income of the top 1% of wealthy persons in the U.S. before economic crises using data initially published as Thomas Piketty and Emmanuel Saez (2003) on wikimedia commons CC-NC-3.0

Top1%USA


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URLs in this post:

[1] Paris School of Economics: http://en.wikipedia.org/wiki/Paris_School_of_Economics

[2] Piketty: http://en.wikipedia.org/wiki/Thomas_Piketty

[3] book: http://www.economist.com/news/finance-and-economics/21592635-revisiting-old-argument-about-impact-capitalism-all-men-are-created

[4] Capital in the Twenty-First Century: http://en.wikipedia.org/wiki/Capital_in_the_Twenty-First_Century

[5] generated quite a buzz: http://www.nybooks.com/articles/archives/2014/may/08/thomas-piketty-new-gilded-age/

[6] Greece: http://globalvoicesonline.org http://en.wikipedia.org/wiki/Greek_government-debt_crisis

[7] abound: http://www.cato.org/publications/commentary/presidents-inequality-absurdities

[8] Image: http://commons.wikimedia.org/wiki/File:2008_Top1percentUSA.png

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