Alasdair Macleod: Inequality and Piketty

Section:

11:13a ET Friday, May 9, 2014

Dear Friend of GATA and Gold:

GoldMoney research director Alasdair Macleod today disputes the analysis of the French economist Thomas Piketty, whose new book, "Capital in the 21st Century," criticizing the plutocracy that has taken over the West, has become popular with the political left.

Macleod writes: "In his haste to give government his approval to tax the rich in the pursuit of equality, Piketty seems completely unaware that it is government itself that is the problem. By embracing crony capitalism and inflationary monetary policies, the state enriches the rich and impoverishes the poor. This is the exact opposite of the effect intended."

Macleod's commentary is headlined "Inequality and Piketty" and it's posted at GoldMoney's Internet site here:

http://www.goldmoney.com/research/analysis/inequality-and-piketty?gmrefc...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.



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