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“and I am now convinced that we need to think about a new way of going beyond capitalism, a new form of socialism, participative and decentralized, federal and democratic, ecological, multiracial, and feminist.”
― Thomas Piketty, Time for Socialism: Dispatches from a World on Fire, 2016-2021

“It has become commonplace to say that the current capitalist system has no future, as it deepens inequalities and exhausts the planet. This is not false, except that in the absence of a clearly explained alternative, the current system still has many days ahead of it.”
― Thomas Piketty, Time for Socialism: Dispatches from a World on Fire, 2016-2021

“We will have to construct new norms of social, educational, fiscal, and climate justice through democratic discussion. These”
― Thomas Piketty, Time for Socialism: Dispatches from a World on Fire, 2016-2021

“Here are the main facts:1 Between 1980 and 2016, average national income per adult, expressed in 2016 euros, rose from 25,000 euros to just over 33,000 euros, or a rise of approximately 30%. At the same time, the average wealth held derived from property per adult doubled, rising from 90,000 to 190,000 euros. Yet more striking: the wealth of the richest 1%, 70% of which is in financial assets, rose from 1.4 to 4.5 million euros, or increased more than threefold. As to the 0.1% of the wealthiest, 90% of whose wealth is held in financial assets, and who will be the main beneficiaries of the abolition of the wealth tax, their fortunes rose from 4 to 20 million euros, that is, they increased fivefold. In other words, the biggest fortunes in financial assets rose even more rapidly than property assets, whereas the opposite should have been the case if the hypothesis of a fiscal flight were true. Moreover, this type of finding is a characteristic in the ranking of fortunes, in France as in all countries. According to Forbes, the top world fortunes, which are almost exclusively held in financial assets—have risen at a rate of 6% to 7% per year (on top of inflation) since the 1980s, or 3â€�4 times more rapidly than growth in GDP and of world per capita wealth.”
― Thomas Piketty, Time for Socialism: Dispatches from a World on Fire, 2016-2021