Economist and Socialist Thomas Piketty (Financialpost.com)
Have you ever wondered why the Obama Administration’s plans for improving the U.S. economy always seem to fail? It just might have something to do with the fact that the Obama Administration has been working with someone who doesn’t like capitalism.
According to an article on France24.com, a well known economist who isn’t fond of capitalism, but doesn’t mind Socialism, has been working with the Democrats and the Obama Administration “for a long time”:
In his latest book, French economist Thomas Piketty warns that modern-day capitalism leads to unsustainable levels of inequality. While he is often linked to France’s Socialist Party, his writings have made him unusually popular in the US.
Thomas Piketty’s “Capital in the Twenty-First Century” has only just been translated into English – several weeks ahead of schedule, due to popular demand – and the New York Times’s star columnist Paul Krugman has already described it as “the most important economics book of the year — and maybe of the decade”.
The French economist’s current US book tour is turning into something of a red carpet event. So far this week, he has met the White House’s Council of Economic Advisors as well as Treasury Secretary Jacob Lew.
“The Democratic Party, especially the Obama administration, has been in contact with us and using our findings for a long time,” Piketty told AFP in Washington.
Read more here.