Tuesday, April 22, 2014

Inequality - The Right Wing are freaking out because an economist talks facts

http://www.alternet.org/economy/why-economist-thomas-piketty-has-scared-pants-american-right?page=0%2C1&akid=11737.294211.CRDh3z&rd=1&src=newsletter984042&t=3

Income and wealth inequality have not been comprehensively studied to date, which has to do with the paucity of historical data and the difficulties of making comparisons between countries and populations when there are so many variables. Piketty's contribution is to painstakingly comb over the available data and illuminate trends that would leave no reasonable person in doubt of the fact that capitalism's inherent dynamics create inequality, and that only our express intervention, in the form of things like a global wealth tax, investment in skills and training, and the diffusion of knowledge can lead us to a different outcome.

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