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Business Matters: Wealth inequality 07 May 14
Today we're devoting half of the program to a discussion on wealth inequality and whether a growing gap between rich and poor is the inevitable2 outcome of the capitalist system left to find its own way. In his new book, 'Capital . . .' the French economist3 Thomas Picketty says that is most definitely the case and he argues that higher taxes are the only way to fix it. In our Washington bureau, two eminent4 economists5: Professor Peter Morici from the University of Maryland, and Mark Weisbrot, co-Director of the Centre for Economic and Policy Research. They fight over whether Piketty is right or wrong. Also in the programme: Obama tackles climate change; is South Africa's economy too skewed towards big business; and Rahul Tandon on the Indian election trail in Shantiniketan, West Bengal. Oh, and Lucy Kellaway of the Financial Times has a few top tips for those seeking world domination.
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