A Quote by Thomas Piketty
You need some inequality to grow... but extreme inequality is not only useless but can be harmful to growth because it reduces mobility and can lead to political capture of our democratic institutions.
Related Quotes
When inequality gets too extreme, then it becomes useless for growth, and it can even become bad because it tends to lead to high perpetuation of inequality over time and low mobility.
When inequality gets to an extreme, it is completely useless for growth.
True education makes for inequality; the inequality of individuality, the inequality of success, the glorious inequality of talent, of genius.
What is different between national inequality and global inequality is you have another element there that is sometimes forgotten: what matters for global inequality is relative growth rates between poor and rich countries.
We in America were worried about many problems dealing with economic inequality and political inequality. The Communist Party seemed to be the only political force, both concerned and willing, to take action to stop the threat of fascism abroad and to work for economic and political reform in this country.
I think, unfortunately, we've always lived in a world of massive inequality: inequality between the haves and the have-nots, inequality between men and women that not only exists temporally but geographically as well.
I think, from a progressive point of view, to have a Democratic Congress and a Democratic White House, and to have spent the time on Obamacare, which had real benefits, 20 million insured, but not on inequality, was a major cost to the Democratic Party, costing them their majorities, but also a bit of a cost to the country, because it didn't address the fundamental issues that led to Donald Trump and that led to a lot of unhappiness, just the continued widening inequality.
Inequality hardens society into a class system. Inequality divides us from one another... Inequality undermines democracy.
There are some people who say that they?re concerned only with poverty but not inequality. But I don?t think that is a sustainable thought. A lot of poverty is, in fact, inequality because of the connection between income and capability?having adequate resources to take part in the life of the community.
We need to tackle extreme inequality because it is morally indefensible and socially corrosive - undermining our health, affecting our well-being, and undermining peaceful societies.
In the U.S. when people like me started writing things about inequality, the economic journals had no classification for inequality. I couldn't find where to submit my inequality papers because there was no such topic. There was welfare, there was health issues, there was trade obviously. Finance had hundreds of sub groups.
The difference between rich and poor is becoming more extreme, and as income inequality widens the wealth gap in major nations, education, health and social mobility are all threatened.
I was at the World Bank and a commission reviewed our work on inequality for the U.S. Congress or somebody, and the head of the commission said to us: "You are spending taxpayer money to study issues like inequality? Which goes directly against capitalism and growth." That was the perception, that it should not be studied.
Rising inequality is toxic to growth. High levels of inequality exclude people - both as innovators and customers - diminishing both innovation and demand.
We need to invest in healthcare, in education, in the sciences. And in so doing, we will tackle one of the most intractable problems we face, which is gross wealth inequality. We can't fight climate change without dealing with inequality in our countries and between our countries.
When I was poor and I complained about inequality they said I was bitter. Now I'm rich and I complain about inequality they say I'm a hypocrite. I'm starting to think they just don't want to talk about inequality.
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