Whether you agree or disagree with Thomas Piketty, a French economist, that the rich are getting richer and it’s harder and harder for the poor to earn a good return on capital (i.e., there is a growing inequality of wealth). I think we can sleep easy as any such fear of such becoming the norm, will being squished.Why?
- Due to the volume of the debate associated to the book's publication
- The accelerating speed of social media communication
- The ethics and values of Generations X and Y, and probably Z too, will ensure this type of financial inequality will not flourish or survive in the long-term
References
- 'Capital in the Twenty-First Century' http://www.amazon.co.uk/Capital-Twenty-First-Century-Thomas-Piketty/dp/067443000X
- The Economist http://www.economist.com/blogs/economist-explains/2014/05/economist-explains
The book has unsurprisingly attracted plenty of criticism. . . Theory argues that it should become ever harder to earn a good return on wealth the more there is of it . . . . Others argue that Mr Piketty’s policy recommendations are more ideologically than economically driven and could do more harm than good. But many of the sceptics nonetheless have kind words for the book’s contributions, in terms of data and analysis.
http://www.economist.com/blogs/economist-explains/2014/05/economist-explains
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