The Coronavirus Pandemic, among many other great issues, has laid bare the deep divisions in America caused by income inequality. It is clear that those at the bottom of the economic spectrum, for a variety of reasons  including access to health care, are suffering the most. So what does this have to do with economics?  A great  deal.

Capital and Ideology, the new volume by economist Thomas Piketty traces the history of income inequality from ancient eras to modern day America, Europe and Asia.  Not an easy read, the 1000 plus pages of narrative and graphs define in depth all aspects of inequality and its impact upon the human condition. Piketty’s  historical research is impeccable.  Will the persistent growth of income inequality change society forever?  Will it  create a modern day aristocracy passing wealth from one generation to the next,  permanently dividing the economic class structure in all of the world’s democracies. The research places America at particular risk with 75% of all wealth already controlled by the 10% wealthiest.  Piketty clearly demonstrates his belief that this  ratio of income distribution is not sustainable.

Capital and Ideology is a sequel to Piketty’s Capital in the 21st Century which lays the groundwork for his new book.  ( search

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