thomas piketty capital in the 21st century
A good example of this practice is tech icon IBM. CEO Sam Palmisano left in 2011, having received more than $87 million in
Why do we seem to be the only developed country that is unable to sustain a healthy middle class, with all the benefits to economic growth that is passed on to every segment of society?
This may seem facetious some six years into recovery, but many policy makers don't understand the severity of the Great Recession, or its consequences. It is the major reason why Greece, and many other Eurozone countries are in so much economic trouble at present.
One CEO has taken a step that could help fend off Thomas Piketty's nightmare vision of rising wealth inequality: He's giving thousands of his workers a raise.
The European: But where can we draw the line? Fighting inequality on a national level often has repercussions that cross
In 2014, serious voices from Pope Francis to Thomas Piketty, in his book Capital in the 21st Century, have lamented ever-widening inequality. Others have expressed concern that "the second machine age" of digital technologies will entail the massive elimination of jobs.
In fact, the FT editor who criticized the French economist's blockbuster, 700-page tome on inequality is sticking by his
“The problem with all the publicity is you have people who write about the book who apparently have not opened it,” Piketty
Piketty's concerns are relevant to the growing inequality in China that has resulted from adopting the neo-liberal capitalist model from the West. Hence, Piketty's reflection on mainstream Western economics indirectly treads a delicate ground in China. It fits right into the current raging debate over which path China's reformers should take in the next stage of "structural reform."
This is reminiscent of the "debate" over climate change: While partisans might still haggle over its importance and/or existence
Can the right continue to succeed as the party of unreality? In the recent past, conservatives have denied climate change, as well as evolution. Now, their strategy is to deny the reality of increasing concentration of income and wealth. When Thomas Piketty's book appeared, providing new documentation on increasing capital concentration, the right was temporarily thrown off guard. Some resorted to the claim that inequality was, by definition, earned, and necessary to produce incentives in a capitalist system. But somehow, our market economy did just fine -- better in fact -- back in the 1950s and 1960s with far lower levels of inequality. And much of Europe matches our growth rates with far less inequality. Others simply denied that inequality has been increasing.
"Piketty's central theme is not that inequality of the ownership of wealth is going to skyrocket," wrote Mike Konczal of
A recent analysis alleging that Thomas Piketty's groundbreaking data on inequality contains errors is "just ridiculous," according to the French economist.
In an email to Bloomberg News, Piketty dismissed a report published Friday in the Financial Times alleging that his book
The alleged errors don't seem to be as damning to the entire premise of Piketty's book as were the spreadsheet errors of
While it is true that the long-term dynamics of unequal wealth distribution are indeed unsustainable and unconscionable, a reality much less obvious is buried in the data
Extreme private wealth inequality is a fact of economic life in most countries. The U.S. is a prime example. The top 1 percent of wealth holders own almost 40 percent of all wealth. And the top 10 percent hold almost 90 percent. What should we make of this?
Piketty argues that American "economists ... look down at other fields," failing to grasp important lessons from history
To make matters even worse, some of this vast income is being taxed at just the 15 percent capital-gains rate. Piketty has
"So what? Who cares?" you might be asking. Slower population growth could mean rising living standards and higher incomes