Asking nicely for the end of capitalism

Piketty's Global Justice Report proves a fairer world is technically achievable. What it can't tell you is how to build the forces capable of fighting for it.

I’m about to arrive in Paris for the World Inequality Conference, which is being held to mark the launch of the Global Justice Report, authored by Thomas Piketty and his fellow academics at the World Inequality Lab. You might have seen some coverage of the report already – The Guardian has covered the report, as well as publishing an op-ed by the authors.

It’s a fascinating read, which proves beyond doubt that the obstacles to achieving economic justice and sustainability are not technical. Instead, the obstacles are political - in the shape of economic and political elites who would never willingly give up an iota of their power. This power cannot be bargained with. It must be broken. The issue is that, right now, the global majority is far too disorganised to break anything – let alone capital itself.

Global injustice

The report starts by pointing out that the world’s billionaires currently own 6.4% of all global wealth, while the bottom half of humanity owns 2%. Our unequal economic model is destroying the planet and generating untold human misery – even in the rich world. The authors argue that a different world is possible: one in which “90% of the world’s population doubles their income but works half the hours we work today”.

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