Thomas Piketty
French economist and professorWikipedia
92
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61
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59
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Search complete. 92 mentions across 61 episodes found for "Thomas Piketty".
Nov 2, 2026
Ulrike GuérotGUEST
It's totally dysfunctional and it's the essence of the so-called democratic deficit.
Ulrike GuérotGUEST
And this is why we are living in the times of the monsters, especially in in the European Union system and that is Thomas Piketty I guess everybody knows Thomas Piketty the very renowned French economist who wrote years ago we created a monster and he designed he said this to the EU so now we have two discussions because this is not working the EU destroyed The EU in itself, the EU single market, destroyed through the libertarian or neoliberal sort of policies the social fabrics of all the republics that constitute the European Union, right? So it destroyed the social fabric of France, of Italy, of Austria and so on and so forth.
Ulrike GuérotGUEST
Therefore, we now have populism.
Ulrike GuérotGUEST
Therefore, we now have polarization.
Huw MacartneyGUEST
One of the central arguments of the book is that you need to distinguish between wealth derived from work and wealth derived from ownership of assets, right? And those two things in the field that I work in, in political economy, they come from two very different schools of thought, I suppose, on the sources of economic inequality, right? And all of that...
Huw MacartneyGUEST
It's been spotlight over the last about 13 years since the work of Thomas Piketty came to the fore.
Huw MacartneyGUEST
So people who earn their wealth through work and wages each month, they're limited in certain ways.
Huw MacartneyGUEST
What we found based on data that goes back centuries now is that those who own assets and capital, et cetera, tend to expand that wealth at a far faster rate, I suppose, than people who simply, you know, work and earn salaries or whatever.
Alex MartinHOST
The other report that has come out very recently, and it has been recommended by Thomas...
Alex MartinHOST
Piketty, I think his name is, an economist, was that of the income, wealth and tax at the top report, which was done by, what's her name, Taylor Forward, Better Taxes for a Better Future.
Alex MartinHOST
Some key points from that, between 2021 and 2024, the very wealthy paid an effective tax rate of 8.1% compared with 17.4% for the median wealth adult.
Alex MartinHOST
So when we're talking about the squeezed middle, right, I think the middle is being squeezed by the ultra wealthy.
John TurnerGUEST
And then another reason that we were interested in CEOs is that CEOs became or have become lightning rods on this debate on wealth inequality.
John TurnerGUEST
If you think of Thomas Piketty's 0.1%, who's in that 0.1%? Well, CEOs are an integral part of that 0.1%.
John TurnerGUEST
And if you look at the United States economy, Back in 1978, the CEO to employee pay was 30.
John TurnerGUEST
So in other words, a typical CEO was being paid 30 times what the average employee in the firm was earning.
María Jimena DuzánHOST
Equidad es una palabra, eh, que al final dice que reformas, pero no cuáles.
María Jimena DuzánHOST
Eh, y leí un artículo de Thomas Piketty que salió precisamente en Le Monde, eh, después de la primera manifestación del 17 de octubre y dice lo siguiente: "Cientos de miles de jóvenes han trabajado duro para obtener su bachillerato, pero nada, eh, pero-- ", dice aquí, eh, "pero que nada, eh, se ha previsto para acogerlos en la enseñanza superior.
María Jimena DuzánHOST
En particular, el número de bachilleres tecnológicos y profesionales ha aumentado considerablemente, pero los puestos en esos lugares para esos bachilleratos técnicos no han seguido el ritmo o no han seguido ese mismo ritmo.
María Jimena DuzánHOST
De modo que muchos terminan, mmm, [chasquido de lengua] de modo que muchos terminan asignados a filiales universitarias superpobladas y menos costosas, y a menudo totalmente inadaptadas a sus necesidades y aspiraciones.
Tim PhillipsHOST
You hear more about this from economists now, and other economists have solutions to this.
Tim PhillipsHOST
If I was talking to Thomas Piketty, for example, he would be saying that we need to tax top earners more or maybe tax wealth as well.
Tim PhillipsHOST
If I was talking to a labor economist like Suresh Naidoo, He would say that we should strengthen the unions, give workers more bargaining power.
Tim PhillipsHOST
Are they right? Is it a solution to this?
Tayla ForwardGUEST
Hence the constant contention and sort of methodological innovations to try and get into what the rich are really up to.
Tayla ForwardGUEST
So this is the problem that the likes of Thomas Piketty and Gabriel Zuckman, Emmanuel Sayers, many colleagues sort of have spent the best part of two decades developing solutions to, I guess, rich people are slippery.
Tayla ForwardGUEST
They're doing what they can to leave as little trace as possible of their true wealth.
Tayla ForwardGUEST
So this was the context in which Labour's revenue minister at the time, David Parker, directed Treasury and IRD to pursue what would become that high wealth individuals report that by now we have heard a bit about.
Eric ZwickGUEST
We first found their importance by making a graph of the top 1% income share over time.
Eric ZwickGUEST
So this is the Piketty and Saez graph about rising income inequality from the 1980s.
Eric ZwickGUEST
And then imagine a counterfactual where you froze past their business income at its share in the early 1980s.
Eric ZwickGUEST
Turns out that you would get less than half the rise of top 1% income shares if You did that counterfactual exercise, which says pass-through business income is driving a huge share of rising income inequality over the period that we're very interested in studying.
Katy ShieldsHOST
Some of the most kind of prominent economists today, even some people from the mainstream, you know, a Nobel winning economist that's kind of got into a spat with The Economist magazine because he's been more critical of kind of some of these mainstream ideas now.
Katy ShieldsHOST
You had Angus Deaton, Joseph Stiglitz, Thomas Piketty on wealth inequality, for example.
Katy ShieldsHOST
Thank you.
Katy ShieldsHOST
And so you're seeing these people, you know, doing different things.
Huw MacartneyGUEST
Laurentier capitalism sounds better.
Huw MacartneyGUEST
So obviously, Brett Christopher's is really, you know, it plays an important role to this as well, alongside others who don't necessarily use that term, Piketty and others.
Huw MacartneyGUEST
What was interesting to me, just camping on that for a second, was that a lot of the really fascinating, excellent work about frontier capitalism doesn't deal in a lot of detail.
Huw MacartneyGUEST
And it comes, you know, my understanding from human geography, a lot of that work as well, doesn't deal a lot with the kind of political classes behind frontier capitalism.
7 MINS LATER
Huw MacartneyGUEST
Why is that important if we put on our political economy hats? Why see two things going on during the 2010s that are really important and interesting for us? One of those is obviously, and this links to other work that I've been doing even recently about asset price inflation, quantitative easing, the increased concentration of wealth.
Huw MacartneyGUEST
This is the decade, you know, what do you call it, asset manager capitalism now.
Huw MacartneyGUEST
It's the decade of Piketty's findings and R&G and so forth, right? This is the decade of the asset economy, as someone called it more recently, Lisa Adkins and Martin Koenigs.
Huw MacartneyGUEST
So that's one kind of big trend of the 2010s.
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