The question is, what level of inequality is acceptable? And when does inequality start doing more harm than good? That’s something we should have a public discussion about, and it’s great that Piketty helped advance that discussion in such a serious way. As Piketty argues, it is inherent to the system. Yes, some level of inequality is built in to capitalism. In fact, thanks to the rise of the middle class in countries like China, Mexico, Colombia, Brazil, and Thailand, the world as a whole is actually becoming more egalitarian, and that positive global trend is likely to continue.īut extreme inequality should not be ignored-or worse, celebrated as a sign that we have a high-performing economy and healthy society. To be clear, when I say that high levels of inequality are a problem, I don’t want to imply that the world is getting worse.
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