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After Piketty?

A B Atkinson1

  • 1Nuffield College, University of Oxford; INET at the Oxford Martin School; London School of Economics and Political Science.

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Summary
This summary is machine-generated.

This paper presents twelve policy proposals to reduce income inequality, drawing on postwar European experience and Piketty's analysis of 21st-century economic shifts. The proposals address science, competition, taxation, and social welfare for national governments.

Keywords:
Inequalityemploymentpovertytaxationtechnical changewealth

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Area of Science:

  • Socioeconomics
  • Public Policy
  • Economic History

Background:

  • Thomas Piketty's 'Capital in the Twenty-First Century' highlights rising capital's role in inequality.
  • Postwar European history offers examples of successful inequality reduction.
  • Contemporary economic conditions, including technological change, differ significantly from the past.

Purpose of the Study:

  • To propose twelve actionable policy measures for reducing income inequality.
  • To adapt historical lessons on inequality reduction to current 21st-century economic realities.
  • To provide a framework for national governments, particularly the UK, to address income disparities.

Main Methods:

  • Analysis of Piketty's economic theories on capital and inequality.
  • Review of historical data on inequality reduction in postwar Europe.
  • Development of a multi-faceted policy approach spanning fiscal, science, and competition policies.

Main Results:

  • A comprehensive set of twelve policy proposals designed to foster a more equitable income distribution.
  • Emphasis on a broad range of policy interventions beyond traditional fiscal redistribution.
  • Consideration of national and international collaborative implementation strategies.

Conclusions:

  • Significant reduction in inequality requires a holistic societal approach, examining all social structures.
  • National governments possess agency in implementing policies to reduce internal inequality.
  • Individual actions, alongside governmental policies, play a role in mitigating inequality.