distribution remains our greatest problem in the arena of saving our democracy from declining from power....a strong government is key to equity.....trickle down does not work. the longer it is in place the wider the gap will become....suddenly we our in the hands of an oligarchy..... The main concerns is the increasing concentration of wealth that has characterized the past few decades, in the United States and other developed economies. He describes this phenomenon in great detail but also abstractly and usefully as r > g; in other words, the more that the rate of return on capital exceeds the rate of growth of the economy, the more wealth is concentrated at the top. Piketty noted a number of times, in response to questions, that he sees – as do many Americans – the main problem with inequality reaching what he called “extreme” levels is that it makes it “impossible to have proper functioning of democratic institutions.”
Posted on: Fri, 18 Apr 2014 13:49:32 +0000
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