Economic Analysis of Social Issues 1st Edition by Alan Grant

Exercise 19

In 2014, economist Thomas Piketty of die Paris School of Economics released a book titled Capital in the Twenty-First Century , which focuses on wealth and income inequality. Piketty suggests that in capitalism, those who start out with money have an easier time making more money, and when this system is left unchecked, die top percentage of income holders eventually capture enough wealth that those who are not in the top percentage could never hope to catch up. If this is true, do you think this is fair? Does it matter if it's fair?