Thomas Piketty at lunch with the FT

This is one of the best weekly “lunch with the FT” interviews that I have seen. French economist Thomas Piketty (born 1971) has achieved ‘rock-star’ status’ with the success of his 2013 bestseller Capital in the Twenty-First Century, so is a particularly appropriate choice for inclusion in this series.

“Too often, economists build very complex mathematical models to look scientific and impress people. I have nothing against mathematics — I initially trained as a mathematician — but it’s usually to hide a lack of ideas. What pleases me is that this book reaches ‘normal’ people, a rather wide public. My mother is one example,” he says, adding that she rarely reads big academic books yet understood everything in his. ….

Piketty says his interest in inequality crystallised after the collapse of the Berlin Wall and the first Gulf war. He recalls visiting Moscow in 1991 and being struck by “the lines in front of shops”. He came back vaccinated against communism — “I believe in capitalism, private property, the market” — but also with a question central to his work: “How come those people had been so afraid of inequality and capitalism in the 19th and 20th century that they created such a monstrosity? How can we tackle inequality without repeating this disaster?”

The first Gulf war, he believed, demonstrated the cynicism of the west: “We are told constantly that states can’t do anything, that it’s impossible to regulate the Cayman Islands and the other tax havens because they are too powerful, and all of a sudden we send a million soldiers 10,000km from home to allow the emir of Kuwait to keep his oil.”

Anne-Sylvaine Chassany, “Lunch with the FT: Thomas Piketty“, Financial Times, 27 June 2015 (metered paywall).

There is much, much more in the full interview.


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