Socialist project by Thomas Piketty (On the book “Capital and ideology”)

B. V. Korneichuk ()

Voprosy Ekonomiki, 2021, issue 11

Abstract: The review examines the model of democratic socialism proposed by Thomas Piketty, which is based on the concept of domination of public and temporary property and is designed to ensure a fair redistribution of world wealth, reduce inequality and ensure broad participation of the middle and lower classes in the management of private firms and political processes. As the main instrument of redistribution, a progressive tax on wealth is proposed, which should be levied on the basis of data from the world register of assets and binding international agreements on a single tax and social policy. The funds received will be used to finance basic income, personal educational and capital funds, a system of electoral and charitable vouchers. Piketty claims that the main opponent of the idea of a progressive tax on wealth is the new proprietary ideology of modern hypercapitalism, which is based on the sacralization of private property, the opacity of international financial flows, and on the principle of meritocracy, which praises billionaires and justifies the trend of increasing inequality. Piketty’s controversial interpretation of inequality factors in modern Russia is also analyzed.

Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:nos:voprec:y:2021:id:3647

DOI: 10.32609/0042-8736-2021-11-127-138

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