by Madeleine Kando
Piketty has caused an international panic. The camps are predictable: he has been criticized vehemently by the Right, including the London Financial Times and the Wall Street Journal, and he is being defended by progressives, for example by Paul Krugman. Clearly, Piketty is a threat to the plutocracy. But as you will see, I agree with Krugman that Piketty is fundamentally correct.
Thomas Piketty is the author of the voluminous 'Capital in the 21st Century', a book on economics and the growing inequality between the rich and the poor. This unassuming professor, who looks more like a schoolboy than a formidable economist, has taken the world by storm. His book contains an incredible collection of historical data that shows that the extreme concentration of wealth that was so typical of the 19th century, the Belle Epoque (1871-1914) is coming back in full force to haunt us in the 21st century. Read more...







