Thomas Piketty

French economist Thomas Piketty argued in his bestselling book Capital in the Twenty-First Century that capitalism arose from feudalism and is in many ways reverting to it.

Dickensian children in factories and coal mines; Karl Marx debunks Capitalism; revolutions and war grip Europe; and inequality casts a gloomy smog over Europe. Ships depart with slaves, convicts and political dissidents bound for the New Worlds, of which Australia is one.

It is the 19th century, the century of capital — a time that will dialectically reverberate shockwaves towards the greatest revolutions, the greatest economic collapse and the greatest bombs.

Economist and author of Capital in the 21st Century Thomas Piketty gave a lecture entitled “Is Increasing Inequality Inevitable?” to a full house at the Sydney Opera House Concert Hall on October 23.

Piketty presented detailed research on growing income inequality compiled by a number of scholars and sourced directly from national taxation and income statistics from primarily advanced capitalist countries, as well as some statistics from a number of the BRICS countries (Brazil, Russia, India, China and South Africa).

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