Thomas Piketty Got This Right!

Bob on Books

CapitalLast summer, Thomas Piketty published Capital in the Twenty-First Century (reviewed here), a best-seller that probably few people waded through. One of the things Piketty explores is how capital wealth accumulates far more rapidly than wealth from wages, and tends to be concentrated in an increasingly small percentage of the global population.

This week, we got a startling glimpse of this in a new Oxfam Study that predicts that by 2016 (that is next year, folks) one percent of the world’s population will control more of the world’s wealth than the remaining ninety-nine percent of the world’s population. A mere 80 of the world’s richest individuals control more wealth than the bottom 3.5 billion people in the world.

All but the most ardent capitalists will see these figures and conclude something is wrong. When over 1 billion people live on less that $1.25 a day while 80 people have…

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About jamesbradfordpate

My name is James Pate. This blog is about my journey. I read books. I watch movies and TV shows. I go to church. I try to find meaning. And, when I can’t do that, I just talk about stuff that I find interesting. I have degrees in fields of religious studies. I have an M.Phil. in the History of Biblical Interpretation from Hebrew Union College in Cincinnati, Ohio. I also have an M.A. in Hebrew Bible from Jewish Theological Seminary, an M.Div. from Harvard Divinity School, and a B.A. from DePauw University.
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1 Response to Thomas Piketty Got This Right!

  1. Interesting repost and I read the Oxfam report as well, a little scary in its ramifications.


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