Thomas Piketty’s new book is called Capital in the Twenty-First Century.
A non-trivial read, at over 600 pages, but makes some clear warnings about the future. It is very thought provoking as essentially the message is that the rich are owning a larger and increasing proportion of the developed world’s wealth and are earning a greater proportion of the developed world’s income. With this wealth comes power, and are able to see the cause great divisions in society with the gap between rich and poor getting wider. We can see this is many ways, the power and influence of the UHNW (Ultra High Net Worth), flats in Central London selling for £100m etc.
What is happening is that the wealthy are able to keep their wealth in the family, and pass it down the generations which then produces a privileged class that control more and more assets while the remaining parts of society have their social mobility restricted.
A lot of talk regarding whether this book is trying to scare people, but massive gaps in wealth between rich and poor is never good for society.