There was almost no middle class, or the 90 % of the weldh would belong to the top ten%. There's very little evidence for his claim. So inequality in or above a certain countis just not not useful any more. We don't want to return to this kind of extreme form of inequality. I think at some inat some abstract philosophical level, everybody agrees that inequality is acceptable as long as it is in the common interest.
Thomas Piketty of the Paris School of Economics and author of Capital in the Twenty-First Century talks to Econtalk host Russ Roberts about the book. The conversation covers some of the key empirical findings of the book along with a discussion of their significance.