Economists have put themselves in a position where what they are doing is supposed to be impossible to understand for outsiders, so they dont even talk - sometimes not even with their girlfriend or boyfriend or friends - about what they are doing.
Thomas PikettyWealth is so concentrated that a large segment of society is virtually unaware of its existence.
Thomas PikettyDas Kapital, I think, is very difficult to read, and for me, it was not very influential.
Thomas PikettyWhen the rate of return on capital exceeds the rate of growth of output and income, as it did in the nineteenth century and seems quite likely to do again in the twenty-first, capitalism automatically generates arbitrary and unsustainable inequalities that radically undermine the meritocratic values on which democratic societies are based.
Thomas PikettyWhat was the good of industrial development, what was the good of all the technological innovations, toil, and population movements if, after half a century of industrial growth, the condition of the masses was still just as miserable as before, and all lawmakers could do was prohibit factory labor by children under the age of eight?
Thomas PikettyContrary to a tenacious myth, France is not owned by California pension funds or the Bank of China, any more than the United States belongs to Japanese and German investors. The fear of getting into such a predicament is so strong today that fantasy often outstrips reality. The reality is that inequality with respect to capital is a far greater domestic issue than it is an international one.
Thomas Piketty