French Economist Piketty Links Inequality to Instability of Democracies
Written byLova Rakotomalala
French economist and Associate Chair at the Paris School of Economics, Thomas Piketty recently published a book called “Capital in the Twenty-First Century” that has generated quite a buzz among fellow economists and political leaders. Piketty's central thesis is that inequality is not an accident, but one of the consequences of the excess of capitalism. Piketty also opines that inequality could threaten the democratic process as recently seen in Greece. Critics of his thesis on inequality also abound.
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
Written byLova Rakotomalala
