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Last Updated : Sep 13, 2019 07:58 AM IST | Source: Moneycontrol.com

Thomas Piketty details political fix for unequal wealth distribution

While his previous blockbuster highlighted inequality, his latest treatise focusses on solutions to the same, which he says must be fixed by governments 'by upending capitalism'

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In a sequel to his book 'Capital in the 21st Century', Thomas Piketty has returned back with another 1,232 page turner -- 'Capital and Ideology", reports Bloomberg . The French edition of the book is set to come out on September 12, but the English translation will be out only next year.

While his previous blockbuster highlighted inequality, his latest treatise focusses on solutions to the same, which he says must be fixed by governments 'by upending capitalism'.

In an interview with French magazine L'Obs, the economist said he has addressed two shortcomings of his previous book in the new one. 'Capital in the 21st Century' focussed on Western economies with not much attention paid to political ideologies behind the idea of inequality.

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His thoughts in his latest work sound quite radical, according to Bloomberg. In his interview with the magazine, he says "time has come to exit this phase of making property sacred, to go beyond capitalism."

In an extract from the book published by Le Monde newspaper, he writes, "In this book I will try to convince the reader that the lessons of history can be leaned upon to define a more demanding norm of justice and equality."

The book comes at a time when the discussion on inequality as an urgent issue is becoming increasingly common with billionaires like Warren Buffett and Ray Dalio discussing it.

A rising number of politicians are also talking about the need to tackle with the problem of skewed income and wealth distribution, one of the more current names among them being US presidential hopeful Elizabeth Warren, who worked with two of Piketty's former aides to design as wealth-tax proposal, the article states.

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First Published on Sep 13, 2019 07:58 am
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