Thomas Piketty was invited by the Faculty of Economics and AMCIS for an interview on his new book 'Capital in the 21st Century'. To the audience he explained that true democracy starts with democratising knowledge and making capital flows transparent.
In his book, Piketty shows that modern economic growth and the diffusion of knowledge have allowed us to avoid inequalities on the apocalyptic scale predicted by Karl Marx. But we have not modified the deep structures of capital and inequality as much as we thought in the optimistic decades following World War II. The main driver of inequality—the tendency of returns on capital to exceed the rate of economic growth—today threatens to generate extreme inequalities that stir discontent and undermine democratic values.