Piketty’s Capital, His Critics and Basic Income

Among other merits, Piketty’s book puts the topic of inequality and income/wealth concentration in the public agenda. His analysis concludes that aggregate income and wealth have tended to concentrate in the top few percentiles of the population. His research as well as the policy and political debate it has brought about, is relevant for the progress of the Basic Income movement. The tendencies for income and wealth concentration, the importance of inheritance for inequality, the weak foundations of current welfare state institutions, and the relevance of the tax structures for redistribution, all are central themes on the Basic Income debate. In this article, the author discusses certain aspects of Piketty’s Capital which are particularly relevant for the Basic Income debate. Taking into account some of the criticisms of Piketty’s work, the article discusses the importance of his main findings for the Basic Income debate.