Piketty omits dictators in third world Nations like North Korea and Cuba and past dictators like Stalin, Mao, and Poi Pot as not fitting into the scope of the analysis he uses to build his economic theory. A theory of the sources of income inequality. In a nutshell Piketty theorizes that the major source of income inequality is the concentration of wealth and income by a few people in the private sector. His analysis is limited to 20 Nations in the Western world. In the Western world where income and wealth are relatively high when compared to the rest of the world (which he has excluded from his analysis). Thus the scope of his analysis is very narrow. So narrow it calls into question the whole legitimacy of his theory. However, even Nations that closely fit Piketty’s ideal economic model prove his theory to be a failure. For example, Germany.
Germany closely fits Piketty’s ideal economic model of: high taxes on income and wealth and a powerful centralized government with tight control over Germany’s industrial, labor, financial, health care, social welfare programs and energy resources. Germany’s tight control of energy resources has facilitated the German government into being conned (to be charitable) into investing billions of tax payer money into failed green energy projects that have led to:
— power blackouts;
–300,000 people who got their electricity cut off due to the fact they could not afford the high cost of green energy;
— industry and jobs leaving Germany due to the high cost of green energy;
— thousands of birds and bats slaughtered by the blades of wind turbines;
— and land once used to grow crops and reserved for natural habitats consumed by massive land devouring wind and solar plants.
To add insult to injury Germany’s CO2 level went up which is the exact opposite of what the German government used to justify their massive waste of tax dollars in green energy. Why? because surprise surprise wind and solar are weather dependent thus intermittent sources of energy that don’t work on a cloudy day or when the Wind doesn’t blow just right. So what to do? In the German governments great wisdom they shut down their nuclear power plants thus to meet the demand for electricity they were forced to going back to the use of coal. Brown coal which is the dirtiest form of coal. So not only did Germany’s environment get worse, jobs were lost, income went down and 300 thousand people got their electricity cut off.
In the real world, Piketty’s theory that wealth and money concentrated in the cold hands an all powerful government (not left in the private sector) will lead to more prosperity has proven to be a failure every time it is tried. A failure inevitably devolving into less prosperity, lower income, more poor people and misery for all but the elite in government.