Our plan is radical – but by transforming how we live on a finite planet, nearly everyone gains, says Thomas Piketty and researchers from the World Inequality Lab
Crassus levels of extreme wealth in the hands of a few is a symptom of the decline of a failing state, and invariably through history, such people are generally unable to let go of their wealth and power. They struggle even to treat their own workers and servants fairly.
Historically, an embarrassment of riches was sometimes literally embarrassing, and in many societies, such accumulation was frowned upon. Here in the US we lost that during the California gold rush, which redefined the American dream as striking it rich, and the railroad barons and industrial magnates became objects of admiration and aspiration.
We need to create a culture in which excess accumulation is regarded as an illness rather than the product of hard work.
We’re approaching that as we understand generally that _no one can earn a billion dollars, and that the biographies of billionaires in public life feature immorality, ruthlessness, anti-competitive business practices and still a fuckton of luck and opportunity, and intergenerational wealth to start them off. We’re even watching as many of them fail upwards through corruption and abuse of political power.
It is by no virtue that people get rich. In fact, quite the opposite.
Crassus levels of extreme wealth in the hands of a few is a symptom of the decline of a failing state, and invariably through history, such people are generally unable to let go of their wealth and power. They struggle even to treat their own workers and servants fairly.
In psychology, this is a known phenomenon.
Historically, an embarrassment of riches was sometimes literally embarrassing, and in many societies, such accumulation was frowned upon. Here in the US we lost that during the California gold rush, which redefined the American dream as striking it rich, and the railroad barons and industrial magnates became objects of admiration and aspiration.
We need to create a culture in which excess accumulation is regarded as an illness rather than the product of hard work.
We’re approaching that as we understand generally that _no one can earn a billion dollars, and that the biographies of billionaires in public life feature immorality, ruthlessness, anti-competitive business practices and still a fuckton of luck and opportunity, and intergenerational wealth to start them off. We’re even watching as many of them fail upwards through corruption and abuse of political power.
It is by no virtue that people get rich. In fact, quite the opposite.