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Thomas Piketty explained and documented in his 2014 book, "Capital in the Twenty-First Century," how and why capitalism inexorably produces increasingly extreme inequality of wealth unless it is regulated and taxed or periodically disrupted by destructive wars and/or revolutions. (We now know that pandemics seem to have the opposite effe…
Thomas Piketty explained and documented in his 2014 book, "Capital in the Twenty-First Century," how and why capitalism inexorably produces increasingly extreme inequality of wealth unless it is regulated and taxed or periodically disrupted by destructive wars and/or revolutions. (We now know that pandemics seem to have the opposite effects.) It seems to me that we may soon be testing the upper limit on wealth inequality. It may be that limiting factor will turn out to be resulting war or revolution. We'd be wiser if we tried some regulation and taxation before we get to that point, but it seems that the greater the inequality, the less chance we will have to try those methods.