Wealth is so concentrated that a large segment of society is virtually unaware of its existence.
Thomas PikettyI loved American universities. In many ways, they are better organized - certainly than French universities.
Thomas PikettyThe democratic ideal has always been related to a moderate level of inequality. I think one big reason why electoral democracy flourished in 19th century America better than 19th century Europe is because you had more equal distribution of wealth in America.
Thomas PikettyOver a long period of time, the main force in favor of greater equality has been the diffusion of knowledge and skills.
Thomas PikettyNo hypocrisy is too great when economic and financial elites are obliged to defend their interest.
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 Piketty