7/3/2014 12:00:00 AM | 11 minute read

Fear or Truth - the Debate Over Financial Inequality in 21st Century

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Andrew Mills

Awareness Engineer | Creator of I Am Toot™ | Author | Expanding Human Wisdom in a Human AI World

Get in touch

Andrew Mills

Awareness Engineer | Creator of I Am Toot™ | Author | Expanding Human Wisdom in a Human AI World

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.

www.economist.com/...