"The key point is that when we make the crucial comparison between the rate of return on wealth and the rate of...

"The key point is that when we make the crucial comparison between the rate of return on wealth and the rate of economic growth, what matters is the after-tax return on wealth. So progressive taxation—in particular taxation of wealth and inheritance—can be a powerful force limiting inequality. Indeed, Piketty concludes his masterwork with a plea for just such a form of taxation. Unfortunately, the history covered in his own book does not encourage optimism."

http://www.nybooks.com/articles/archives/2014/may/08/thomas-piketty-new-gilded-age/

Why We?re in a New Gilded Age

Thomas Piketty isn?t a household name, although that may change with the English-language publication of his magnificent, sweeping meditation on inequality, Capital in the Twenty-First Century. This is a book that will change both the way we think about society...