“This is the one book the 1% don’t want the other 99% to read,” says Bill Moyers in his introduction of the award-winning book Capital in the Twenty-first Century by Thomas Piketty.
Moyers quotes what he calls one of the book’s “extraordinary insights”: “’For those who work for a living, the level of inequality in the U.S. is probably higher than in any other society at any time in the past, anywhere in the world.’”
Moyers explains, “We’re headed into a future dominated by inherited wealth, as capital concentrates in fewer and fewer hands, giving the very rich ever greater power over politics, government, and society. ‘Patrimonial capitalism’ is the name for it, and it has potentially terrifying consequences for democracy.”
Nobel Prize-winning economist Paul Krugman joins Moyers in discussing how the United States is unquestionably becoming an oligarchy—”the very system our founders revolted against.”