includes thoughts on developing countries, a wealth tax , writes William HorobinParis — Thomas Piketty’s last blockbuster helped put inequality at the centre of economic debates. Now he’s back with an even longer treatise that explains how governments should fix it — by upending capitalism., weighing in at 1,232 pages, comes out on Thursday . It’s a sequel to, which has sold more than 2.5-million copies in 40 languages since 2013, according to its publisher.
All this suggests policy makers and investors would do well to acquaint themselves with Piketty’s latest thoughts — which sound pretty radical.“The time has come to exit this phase of making property sacred, to go beyond capitalism,’’ the economist told French magazine L’Obs. Piketty says his conclusion is that it’s a mistake to see inequality as rooted in nature, or driven by changes in technology. Its real causes are to be found in politics and ideology — and that makes it easier to challenge.
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