Piketty’s Capital
With the success of the free market system in China and the collapse of the Soviet Union, the world has reached consensus over the best economic system. Capitalism is now the standard way of organizing most economies around the world. Along with its wide adoption, came the creed that capitalism creates prosperity and raises people out of poverty. This seems true more than ever in the 21st century developing nations. In China, for example, more people have risen from poverty and a middle class has been created. Prosperity has always been the promise of capitalism in western nations. In America, in particular, the Baby Boom generation grew up in a world where one’s labor allowed her to access a middle-class standard of living providing for herself and her children. However, in the 21st century Western World and while China was rising under the eyes of everyone, a new reality started to set in. This fact has been brewing since the end of the miracle 1990s decade but has been primari