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PSIA Seminar: Capital in the 21st Century and Its Impact upon Governance, AUA

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September 30, 2015, 16:30 - September 30, 2015, 18:00

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Phone: +374 10 32-40-40

Thomas Piketty in his path-breaking book, Capital in the Twenty-First Century, argues that over time, economic inequality exists since wealth exceeds the output of production. Since wealth is unevenly distributed in society and in the world, it causes inequality, and with few exceptions, exceeds the size of economic wellbeing not to be disrupted by production.

This is largely due to inheritance. The rich get rich and the rest of society struggles against supply and demand. His solution for this phenomenon is to increase progressive income taxes and include a tax on wealth or assets.

The talk is about the possible impact of Piketty’s hypothesis on governance. Will governments turn toward progressive income taxes and a tax on wealth or some other alternative? The talk also concerns itself with social, economic and political implications that will largely concern governance in the near and intermediate future.

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