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In this video, we ask Thomas Piketty about the applicability of his inequality thesis, the rate of return on capital greater than the rate of growth to the Global South, particularly where the cost of capital is higher. We then ask him about the reasons for inequality in China and post-communist Russia. From there we move on to his thoughts on the political possibility of a high tax regime under liberal democracy. And finally, we end with how he looks at the history of communism, and whether he thinks leveling up of cultural privilege within a generation is feasible.
Thomas Piketty is a French economist who is a professor of economics at the School for Advanced Studies in the Social Sciences, associate chair at the Paris School of Economics, and Centennial Professor of Economics in the International Inequalities Institute at the London School of Economics. Piketty's work focuses on public economics, in particular income and wealth inequality. He is the author of the best-selling book Capital in the Twenty-First Century (2013),[2] which emphasises the themes of his work on wealth concentrations and distribution over the past 250 years. Hailed as a modern successor to Karl Marx’s monumental Capital, it rejuvenated radical leftwing critiques of capitalism and earned Piketty (it rhymes with spaghetti) the epithet of “rock star” economist.
