Inequality and revolutionary transition

Much has been written about the rise in inequality over the past three decades, the debate reaching its crescendo last year with the publication of Thomas Piketty’s treatise ‘Capital in the 21st Century’. This looked at the debate from an equilibrium perspective of equality, or, for some, a position of envy. We will avoid the toxicity of that discussion and pick up on a point that Piketty and most of those who predict pending disaster generally fail to consider at all. And that is that shifts in wealth distribution are in fact an essential part of the evolution of the economy; part of a completely natural cycle.

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