The Postwar Exception: 1945–1975

Thomas Piketty called it the most important formula in economics: it's R > G , which means that the rate of return on capital (R) is greater than the rate of growth in the economy (G).

That simple equation explains why the wealthy always get richer, why inequality keeps growing, and why governments pretend it’s inevitable when it isn’t.

In this video, I unpack how political choices and not economic laws have made wealth compound and wages stagnate, and what we can do to reverse it.