9 years ago
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An Immodest Proposal: A Global Tax on the Superrich
Thomas Piketty, a 42-year-old professor at the Paris School of Economics, has scored a surprise publishing hit, Capital in the Twenty-First Century, that proposes an unusual, possibly impractical, yet intriguing response to what he calls “the central contradiction of capitalism”: the tendency of wealth to grow faster than the gross domestic product, creating inequality that undermines democracy and social justice.
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Right now, the useless accumulation of wealth and the inevitable poverty it creates is not causing enough pain. But the trends are, if anything, accelerating, and when enough people are living without so others can have a thousand times more than they can possibly use, unless another FDR comes along the rules of the game are going to change. Or rather, they are going to go back to how they used to be -- think France in 1789, or Russia in the early 20th century, for instance.
A revolution is almost a sure thing, however right now people are still comfortable so I doubt it will happen in foreseeable future.
Since the rich run the world,this won't happen.
If this was to happen, it needs to happen very soon.