No one is disputing that Piketty’s books are ground-breaking, that his research and his team’s research are fundamental, or that their databases and reports are invaluable. Moreover, this research puts economics back in history, which is highly commendable.
According to Piketty, the relatively egalitarian world of the “Thirty Glorious Years” following the world war II is being replaced by once again very unequal societies, with a force of inertia notably in terms of wealth inequalities.
He concludes that the best way to counter this trend is to implement a progressive global capital tax. However, the World Bank, the IMF, multiple academics, Fed surveys, and the US Bureau of Labour Statistics among others have all challenged Piketty’s findings on inequality.
You can now read the full whitepaper at the link below