Thomas Piketty
French · 1971–
French economist, known for his work on wealth and income inequality, particularly the argument that the rate of return on capital tends to exceed the rate of economic growth.
Wikipedia ↗“Quand le taux de rendement du capital dépasse durablement le taux de croissance de la production et du revenu — ce qui était le cas jusqu'au XIXe siècle, et risque fort de redevenir la norme au XXIe siècle —, le capitalisme produit mécaniquement des inégalités insoutenables, arbitraires, remettant radicalement en cause les valeurs méritocratiques sur lesquelles se fondent nos sociétés démocratiques.”
French
“When the rate of return on capital exceeds the rate of growth of output and income, as it did in the nineteenth century and seems quite likely to do again in the twenty-first, capitalism automatically generates arbitrary and unsustainable inequalities that radically undermine the meritocratic values on which democratic societies are based.”
“L'histoire de la répartition des richesses est toujours une histoire profondément politique, et elle ne saurait se résumer aux seuls mécanismes économiques.”
French
“The history of inequality is shaped by the way economic, social, and political actors view what is just and what is not, as well as by the relative power of those actors and the collective choices that result.”
“Social distinctions can be based only on common utility.”
English
Piketty quotes Article 1 of the 1789 Declaration of the Rights of Man to frame his argument.
“La force de déstabilisation principale est liée au fait que le taux de rendement privé du capital r peut être durablement et significativement plus élevé que le taux de croissance du revenu et de la production g.”
French
“The principal destabilizing force has to do with the fact that the private rate of return on capital, r, can be significantly higher for long periods of time than the rate of growth of income and output, g. The inequality r > g implies that wealth accumulated in the past grows more rapidly than output and wages.”
“Le refus des chiffres sert rarement les intérêts des plus modestes.”
French
“Refusing to deal with numbers rarely serves the interests of the least well-off. It is hardly surprising that the wealthiest members of society often prefer not to talk about distribution.”
“Sur le long terme, la force principale en faveur d'une plus grande égalité a été la diffusion des connaissances et des compétences.”
French
“Over a long period of time, the main force in favor of greater equality has been the diffusion of knowledge and skills.”
“Toute société humaine doit justifier ses inégalités : il faut leur trouver des raisons, faute de quoi c'est l'ensemble de l'édifice politique et social qui menace de s'effondrer.”
French
“Every human society must justify its inequalities: unless reasons for them are found, the whole political and social edifice threatens to collapse.”