Matter of time before Malema discovers Piketty

by Jonny Steinberg – 

IT IS a matter of time before the work of French economist Thomas Piketty begins to influence debates about wealth and redistribution in SA. For those who have spent the past three months living in a box, Piketty’s 700-page tome, Capital in the Twenty-First Century, is a runaway bestseller that has changed what the world talks about when it talks about inequality.

In the mid-1970s, developed countries in the West started becoming more unequal and have been becoming more so ever since. Public debate about this issue has on the whole been concerned with the huge increases in salaries and bonuses accrued by top earners, while the wages of the average employee stagnate.

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