On Friday, the famous French economist Thomas Piketty visited Oslo. In his lecture at the University of Oslo, Pikkety stated higher taxation is a must for to brake the rapidly increasing inequality in the United States and other Western countries.
He pointed out that inequality has increased sharply over the past 35 years. He believes some at the very top take a disproportionate share of the pie and that this is a threat to the entire capitalist system.
– Now we need capitalism saved from the capitalists through a progressive taxation on income, wealth and inheritance, said Piketty.
Thomas Piketty is a French economist who works on wealth and income inequality. He is professor at the École des hautes études en sciences sociales (EHESS) and professor at the Paris School of Economics. He is the author of the best selling book Capital in the Twenty-First Century.
The book, published in 2014, focuses on wealth and income inequality in Europe and the US since the 18th century. The book’s central thesis is that inequality is not an accident but rather a feature of capitalism that can be reversed only through state intervention. The book thus argues that unless capitalism is reformed, the very democratic order will be threatened. The book reached number one on The New York Times bestselling hardcover nonfiction list dated May 18, 2014. Among many other languages, it was recently translated into Norwegian.