The work of Piketty [0] and others shows that wealth inequality has surpassed pre-WWI historical maximums. The postwar "golden age of capitalism" has given way, from the 70s until today, to a neoliberal system that simply doesn't serve most people on the planet.
It's an unfortunate fact that significant change happens rarely without large convulsions, e.g. after a major war, because I don't see this being sustainable even medium-term.
I would not cite Piketty, Zucman or Saez who are the hardest fighters of the wealth inequality thesis as they usually mix political advocacy and have been criticized in their methodology and have been under a fair share of controversies. Btw I have grouped them because this is how they are usually treated, both by the fact they are all French economists but also on the fact they all push for the same inequality thesis
So you ask not to cite someone only because they believe in what they discovered and suggest to take action based on that?
Who has not been criticize in their methodology? Who do you expect to avoid any amount of "controversies" for such a political subject?
Your comment seems to be pure ad hominem. Also, discarding authors because they're French is kinda stupid: historically, quick advances in a field most often start at one time and place.
I never said to discard them because they are French, but the political ideas they advance are the centric positions of French culture which for every problem the solution is more taxes, taxes on the rich etc
It would be like expecting American economists to be very libertarian, or Chinese economists very interventionists. The culture of their countries reflects their ideas.
Economics is political, so it should come as no surprise that economists have political opinions about what should be done at the level of the economy. Or is only that which is vaguely left-wing that is "political" or "ideological", and mainstream neoliberal politics and economics are simply "objective" and "technocratic"?
I think it's important to separate the empirical and analytic part, to which you can apply objective criticisms, to the political part, with which you can agree or not but which should have no bearing on the former part.
Yes it is, and I because economics is political, I would appreciate putting an adjective describing the politics of the specific economists who are cited. If I cited a Hayek, as an "economist" it would be incredibly dishonest as his works are deeply libertarian and considered right wing. Mainstream neoliberal politics is right wing but not libertarian, very interventionist. But Piketty is left-wing, and it is dishonest leaving that part unsaid when citing him.
I agree, there is a difference between the technical and political parts. Sorry if I seemed dishonest, but I cited both the 2014 critique as well as a more general 2024 PSZ critique (from right wing POVs) including other economists who usually post on the same subject of income inequality. I will edit my original comment to include Piketty's rebuttals.
Everything in economics always boils down to 1. supply and demand and 2. taxation.
One can simply look at historical income taxes in the USA and their progressiveness and conclude that over time taxes tend to regress until some economic calamity or war happens, after which taxes become extremely progressive again for a short while (top income tax rate bracket of 75% to 90%).
It's an unfortunate fact that significant change happens rarely without large convulsions, e.g. after a major war, because I don't see this being sustainable even medium-term.
[0] https://en.wikipedia.org/wiki/Capital_in_the_Twenty-First_Ce... and subsequent