Piketty's Quotes
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Piketty's Quotes & Sayings
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The main force pushing toward reduction in inequality has always been the diffusion of knowledge and the diffusion of education.
— Thomas Piketty
The only way to overcome these contradictions is for the countries of the Eurozone (or at any rate those who are willing) to pool their public debts.
— Thomas Piketty
Income from labor [in the United States] is about as unequally distributed as has ever been observed anywhere.
— Thomas Piketty
Once constituted, capital reproduces itself faster than output increases. The past devours the future.
— Thomas Piketty
Modern redistribution is built around a logic of rights and a principle of equal access to a certain number of goods deemed to be fundamental.
— Thomas Piketty
Having a decent share of the national wealth for the middle class is not bad for growth. It is actually useful both for equity and efficiency reasons.
— Thomas Piketty
We want capitalism and market forces to be the slave of democracy rather than the opposite.
— Thomas Piketty
I believe in the power of ideas, I believe in the power of books, but you have to give them time.
— Thomas Piketty
The bad news (or good news, depending on your point of view) is that things have always been like this.
— Thomas Piketty
Protectionism does not produce wealth, and free trade and economic openness are ultimately in everyone's interest
— Thomas Piketty
What I argue for is a progressive tax, a global tax, based on the taxation of private property.
— Thomas Piketty
Taxation is not a technical matter. It is preeminently a political and philosophical issue, perhaps the most important of all political issues.
— Thomas Piketty
The United States could transform its property tax system into a progressive tax on net worth without asking permission to the rest of the world.
— Thomas Piketty
There is a fundamentalist belief by capitalists that capital will save the world, and it just isn't so.
— Thomas Piketty
political democracies that do not democratize their economic systems are inherently unstable.
— Thomas Piketty
Progress in medicine together with improved living conditions has therefore, it is argued, totally transformed the very essence of capital.
— Thomas Piketty
Without precisely defined sources, methods, and concepts, it is possible to see absolutely everything and its opposite.
— Thomas Piketty
I loved American universities. In many ways, they are better organized - certainly than French universities.
— Thomas Piketty
I think inequality is fine, as long as it is in the common interest. The problem is when it gets so extreme, when it becomes excessive.
— Thomas Piketty
(autarky does not encourage technological transfer).
— Thomas Piketty
the future could hold in store a new world of inequality more extreme than any that preceded it.
— Thomas Piketty
The U.S. is the country that invented progressive taxation of income and of inherited wealth in the 1910s and '20s.
— Thomas Piketty
wealth in the rich countries is currently divided into two approximately equal (or comparable) parts: real estate and financial assets.
— Thomas Piketty
'Das Kapital,' I think, is very difficult to read, and for me, it was not very influential.
— Thomas Piketty
I don't live in the Cold War. Some people maybe still live in the Cold War, but this is their problem, not mine.
— Thomas Piketty
We know too little about global wealth dynamics, so we need international transmission of bank information.
— Thomas Piketty
Wealth is so concentrated that a large segment of society is virtually unaware of its existence.
— Thomas Piketty
My premise is not to tax to destroy the wealth of the wealthy; it's to increase the wealth of the bottom and the middle class.
— Thomas Piketty
I'm not as pessimistic as what a number of people seem to believe.
— Thomas Piketty
the upper classes instinctively abandoned idleness and invented meritocracy lest universal suffrage deprive them of everything they owned.
— Thomas Piketty
Autarky has never promoted prosperity.
— Thomas Piketty
I don't pretend that I can predict the future value of the growth rate or rate of return.
— Thomas Piketty
Democracy will never be supplanted by a republic of experts - and that is a very good thing.
— Thomas Piketty
A tax on capital would promote the general interest over private interests while preserving economic openness and the forces of competition.
— Thomas Piketty
can we imagine political institutions that might regulate today's global patrimonial capitalism justly as well as efficiently?
— Thomas Piketty
All told, over the period 1932-1980, nearly half a century, the top federal income tax rate in the United States averaged 81 percent.
— Thomas Piketty
(which did not exist before the creation of the income tax in 1913)
— Thomas Piketty
It's not Utopian to believe that we can create a global registry of financial assets so we know who owns what in different countries.
— Thomas Piketty
No hypocrisy is too great when economic and financial elites are obliged to defend their interest.
— Thomas Piketty
Indeed, the distribution of wealth is too important an issue to be left to economists, sociologists, historians, and philosophers.
— Thomas Piketty
Capitalism and market forces are very powerful in producing wealth and innovation. But we need to ensure that these forces act in the common interest.
— Thomas Piketty
Sub-Saharan Africa, with a population of 900 million and an annual output of only 1.8 trillion euros (less than the French GDP of 2 trillion),
— Thomas Piketty
Everyone is political in his or her own way.
— Thomas Piketty
tax is always more than just a tax: it is also a way of defining norms and categories and imposing a legal framework on economic activity.
— Thomas Piketty
The principal mechanism for convergence at the international as well as the domestic level is the diffusion of knowledge.
— Thomas Piketty
Our modern democratic ideal is based on the hope that inequalities will be based on merit more than inheritance or luck.
— Thomas Piketty
one would expect to see a flow of investments in Africa from other countries, especially China and other Asian nations.
— Thomas Piketty
Taxation is neither good nor bad in itself. Everything depends on how taxes are collected and what they are used for.
— Thomas Piketty
The social sciences collectively know too little to waste time on foolish disciplinary squabbles.
— Thomas Piketty
The only continent not in equilibrium is Africa, where a substantial share of capital is owned by foreigners.
— Thomas Piketty
Inequality is not necessarily bad in itself: the key question is to decide whether it is justified, whether there are reasons for it.
— Thomas Piketty
Over a long period of time, the main force in favor of greater equality has been the diffusion of knowledge and skills.
— Thomas Piketty